The Pakistani rupee finally made a minor comeback against the US Dollar, and registered a minor decrease of 8 paisas in interbank trading on Friday, signalling a positive outlook for the local currency.
The US Dollar depreciated by 8 paisas, starting trade at Rs279.30 in interbank market on the last day of trade.
Also Read: Pakistani Rupee continues to fall against US Dollar
At the close of trading on Thursday, the Pakistani currency settled at Rs279.38 after falling six paisas against the Greenback, according to the State Bank of Pakistan (SBP).
Interbank closing #ExchangeRate for today https://t.co/5KeIpoJvJg#SBPExchangeRate pic.twitter.com/N3JE0i7Ywk
— SBP (@StateBank_Pak) February 15, 2024
In the open market, however, the US Dollar is being traded at Rs282.
Also on Thursday, the Moody’s rating agency in its latest report, said political uncertainty persisted in Pakistan following inconclusive election results, calling it a credit negative. It stated that uncertainty around Pakistan’s ability to quickly negotiate a new International Monetary Fund (IMF) programme after the current one expires in April 2024 remains very high.
