Karachi August 11 2022: Pakistan Rupee appreciate for the eight consecutive day to trade below 218 against dollar in the interbank on higher export-related receipts and optimism that country is inching toward securing the International Monetary Fund bailout amid crackdown on foreign exchange dealers.
The rupee appreciates by PKR 3.99 in the interbank to trade at 217.92 against dollar.
The worst may be over for emerging Asian currencies as slower-than-expected US inflation eases pressure on the Federal Reserve to aggressively raise interest rates, according to DBS Group Holdings Ltd. and Malayan Banking Bhd.
Pakistan has met the last prior action for the combined 7th and 8th review following the increase in petroleum levy on 31st July 2022, says IMF country representative to Pakistan Esther Perez Ruiz.
The Board meeting is tentatively planned for third week of August as per Governor State Bank of Pakistan.
