Rupee slightly goes down against US dollar in interbank market

Karachi: The local currency slightly went down against the US dollar in the interbank market on Monday.

The State Bank of Pakistan said that the local currency  went down by 0.31 against the greenback in the interbank market to close at Rs284.71.

Interbank closing #ExchangeRate for todayhttps://t.co/JXY6kw8YvA pic.twitter.com/W38cfIp4bc

— SBP (@StateBank_Pak) April 17, 2023

According to the Forex Association of Pakistan, the sale rate of dollars in the open market was recorded at Rs 288.

Earlier, Finance Minister Ishaq Dar had said that the United Arab Emirates (UAE) confirmed to the International Monetary Fund (IMF) that it will provide support of $1 billion to Pakistan. “UAE authorities have confirmed to IMF for their bilateral support of US $1 billion to Pakistan,” Dar said in a tweet today.

In another tweet, he had confirmed receiving of $300m from China.

The Saudi Arabia earlier had also confirmed the IMF provision of $2bn to Pakistan ahead of its deal for revival of stalled programme.