The robust appreciation in the value of the Pakistani rupee against the US dollar continued on Tuesday as interbank trading began.
According to forex traders, as soon as the market opened, the rupee rose by 98 paisas and continued to rise against the US dollar within an hour.
Overall, the rupee has gained Rs1.48 and was trading at Rs212.50.
On Monday, the Pakistan rupee closed at Rs213.98 per US dollar, up 0.71 percent.
The Pakistani currency is expected to perform much better in the coming days, according to Ministry of Finance sources, who confirmed that all obstacles to Pakistan and the IMF’s loan revival agreement have been removed.
According to the Ministry of Finance, the Pakistani government sent a letter of acceptance to the IMF on Monday.
According to the finance ministry, the IMF will now review the data provided by Pakistan at its board meeting before releasing the billion-dollar tranche.
Following the IMF board’s review, the final draught will be signed by the Acting Governor of the State Bank of Pakistan (SBP) and the Federal Minister of Finance.
According to the sources, the IMF Executive Board meeting will most likely take place on August 29, 2022.
