The Pakistani rupee saw an improvement against the US dollar, appreciating by 0.02% during the early trading hours in the inter-bank market on Tuesday.
As of 11:30 am, the rupee stood at 287.50, marking a slight uptick of Re0.05 in the inter-bank market. In contrast, on the preceding day, the rupee had experienced its 15th consecutive session of depreciation, declining by 0.18% to settle at 287.55 against the US dollar.
Simultaneously, Caretaker Finance Minister Dr. Shamshad Akhtar initiated policy-level discussions on Monday with the visiting staff mission from the International Monetary Fund (IMF) concerning the first review of the Stand-By Arrangement (SBA). This effort is aimed at securing $710 million from the $3 billion loan program.
The meeting, attended by the governor of the State Bank (SBP), the chairman of the Federal Board of Revenue (FBR), and other high-ranking officials from the Ministry of Finance, FBR, SBP, and the Ministry of Energy, signifies a concerted push to navigate the economic challenges and meet the requirements of the IMF program.
