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Thursday, December 26, 2024  
23 Jumada Al-Akhirah 1446  

Dollar falls against rupee in interbank market

Greenback was trading at Rs278.20 in early morning trade
A foreign currency dealer counts US dollars at a shop in Karachi, Pakistan, on May 19, 2022. AFP
A foreign currency dealer counts US dollars at a shop in Karachi, Pakistan, on May 19, 2022. AFP

The dollar fell by 11 paise against the rupee in the interbank market on Thursday, insiders said. The greenback was trading at Rs278.20 in the early morning trade.

On Tuesday, the rupee closed at 278.31 after appreciating by nine paise. The inter-bank market was closed on Wednesday on account of Labor Day.

Reports said Prime Minister Shehbaz Sharif constituted a 16-member Inter-Ministerial Committee headed by Federal Minister for Petroleum and Natural Resources Musadik Masood Malik to facilitate Saudi private sector delegation, scheduled to visit Pakistan from May 5-7, 2024.

Earlier this week, the country received the final $1.1 billion tranche under the nine-month stand-by arrangement in its account from the International Monetary Fund.

This came after Pakistan completed its nine-month economic reform programme supported by the IMF. In a statement on Monday, the Fund acknowledged Pakistan’s progress in achieving economic stability.

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