Just Earth News | @justearthnews | 03 Feb 2023, 06:03 am Print
Image: Wikimedia Commons
Islamabad: The Pakistani Rupee plunged further on Friday to touch Rs 276.58 per dollar in the interbank market, media reports said on Fridayl.
This equates to a depreciation of Rs5.22, or 1.89 per cent, from yesterday’s close of Rs271.36, reports Dawn News.
Today’s slide comes as the government continues talks with an International Monetary Fund (IMF) delegation, which is currently in Islamabad to finalise the ninth review of its $7 billion loan programme to Pakistan, the newspaper reported.
If the review is successful, it would pave the way for a $1.2 billion tranche for Pakistan.
Alpha Beta Core CEO Khurram Schehzad said Prime Minister Shehbaz Sharif’s statement that the Fund delegation was giving a tough time to Finance Minister Ishaq Dar and his team during talks had lowered confidence once again and the rupee’s value declined as a result.
- Sony to launch LOFIC CMOS Sensor with 100 dB Dynamic Range for mobile devices
- Grok Imagine 1.5 is here. What makes it different from others?
- Is this Minecraft’s craziest update ever? Chaos Cubed says yes
- Is AI taking your job? Tech layoffs spike to two-year high, claims report
- OnePlus N6 launch date in India confirmed. All details inside
