Karachi February 4 2022: Dollar traded below PKR 175 at PKR 174.55 against the US Dollar for the first in the interbank bank market towards the end of the today’s trading session since 16th November 2021.
Pak Rupee strengthened by 2 percent form its recent low of PKR 178 hit on 27th January 2021.
The sentiment turned positive as the Executive Board of the International Monetary Fund (IMF) concluded the 2021 Article IV Consultation with Pakistan. The Executive Board also completed the sixth review under the Extended Fund Facility (EFF) for Pakistan, allowing the authorities to draw the equivalent of SDR 750 million (about US$1 billion). This brings total purchases for budget support under the program to SDR 2,144 million (about US$3 billion, or 106 percent of quota).