Web Desk (LTN NEWS): Rupee declined to owe to delay in the IMF programme, bad macroeconomic data, and political uncertainty.
According to the State Bank of Pakistan, the rupee fell against the US dollar on Saturday, when it was worth Rs236.5 in the inter-bank market. On Thursday, it was worth Rs235.88 (SBP).
The rate of dollars in the interbank today is 237 and buying rate is 236.5. Rates is the open market are 239.9 for buying and 241.15 for selling rate.
In the past few months, the rupee has lost a lot of value because the International Monetary Fund (IMF) loan programme has been slow to start up again, macroeconomic indicators are bad, and there is political uncertainty.
On July 28, 2022, it fell to a new all-time low of Rs239.94 per dollar. After Pakistan got back on track with its programme, the IMF gave it $1.2 billion as the latest loan payment.
It will also make it easier for the country to get money from other multilateral and bilateral sources and make international payments.
Aside from that, China has paid back the $2.3 billion loan it gave to Pakistan and put the money in the State Bank.
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