The rupee strengthened against the US dollar at 209.80 in the inter-bank market on Thursday compared with 210.10 on Wednesday, according to the State Bank of Pakistan (SBP).
The rupee has depreciated sharply in the past few months in the wake of delay in revival of the stalled International Monetary Fund’s (IMF) loan programme, poor macroeconomic indicators and political uncertainty.
It plummeted to an all-time low at 211.93 to a dollar on June 22.
Pakistan is expected to receive around $1.2 billion in the next loan tranche from the IMF. Apart from that, China rolled over its loan of $2.3 billion for Pakistan and deposited it in the State Bank.
Published in The Express Tribune, July 15th, 2022.
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