KSE-100 opens bullish today
KARACHI: The Pakistan Stock Exchange (PSX) opened on a bullish note as...
KARACHI: The dollar rebounded and gained 91 paisas to close at Rs174.67 on Thursday in the interbank foreign exchange market, dealers said.
The foreign currency breaks the three-day gaining streak of the rupee after a statement issued by the adviser to the prime minister on finance regarding the International Monetary Fund (IMF) conditions to continue the loan programme.
The exchange rate ended at Rs174.67 against the dollar from the previous day’s closing of Rs173.76 in the interbank foreign exchange market.
A day ago, Adviser to the Prime Minister on Finance and Revenue Shaukat Tareen, outlined the conditions attached to the continuation of the $6 billion Extended Fund Facility of the IMF.
The dealers said the market was uncertain about the inflows; following the statement. They said on October 26, 2021, a pledge was made by the Saudi government to transfer cash, amounting to $3 billion to the State Bank of Pakistan (SBP) but the same was not realized so far. Now the uncertainty about the IMF loan tranche also resulted in panic buying of the dollars.
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