Us dollar vs pakistani rupee

KARACHI: The Pakistani rupee continues to depreciate against the US dollar in the interbank market on Tuesday, according to the State Bank of Pakistan (SBP). According to the State Bank of Pakistan, the local unit (PKR) lost Rs0.37 against USD to close at 286.56. The US dollar closed at Rs286.19 the other day. Meanwhile, the dollar is being sold at over Rs300 in the open market. Interbank closing — SBP (@StateBank_Pak) The Pakistani rupee finished at a record low of 298.93 against the US dollar last week. The surge dollar rate was witnessed following a deadlock over the IMF deal and ongoing political unrest in the country. Earlier it emerged that the International Monetary Fund (IMF) in fresh contact with Pakistan has demanded to slash expenditures of the federal and provincial governments. The IMF in pre-budget talks has also demanded to fix the tax revenue target above Rs. 10,000 billion, according to sources. In virtual talks Pakistan has convinced the lender to move the talks ahead and also requested about the staff-level agreement, sources said. IMF team also demanded major cut in expenditures of federal and provincial governments and pressed for limiting expenses and subsidy in the next fiscal year’s budget, sources said.

Dollar to Pakistani Rupee forecast by day. Date Weekday Min Max Rate 16/06 Friday 283 291 287 19/06 Monday 282 290 286 20/06 Tuesday 283 291 287 21/06 Wednesday 284 292 288 22/06 Thursday 284 292 288 23/06 Friday 284 292 288 26/06 Monday 284 292 288 27/06 Tuesday 285 293 289 28/06 Wednesday 286 294 290 29/06 Thursday 286 294 290 30/06 Friday 286 294 290 03/07 Monday 286 294 290 04/07 Tuesday 286 294 290 05/07 Wednesday 286 294 290 06/07 Thursday 286 294 290 07/07 Friday 285 293 289 10/07 Monday 286 294 290 11/07 Tuesday 287 295 291 12/07 Wednesday 287 295 291 13/07 Thursday 287 295 291 14/07 Friday 288 296 292 17/07 Monday 288 296 292 18/07 Tuesday 288 296 292 19/07 Wednesday 279 287 283 Dollar to Pakistani Rupee forecast on Friday, June, 16: exchange rate 287 Pakistani Rupees, maximum 291, minimum 283. USD to PKR forecast on Monday, June, 19: exchange rate 286 Pakistani Rupees, maximum 290, minimum 282. Dollar to Pakistani Rupee forecast on Tuesday, June, 20: exchange rate 287 Pakistani Rupees, maximum 291, minimum 283. USD to PKR forecast on Wednesday, June, 21: exchange rate 288 Pakistani Rupees, maximum 292, minimum 284. In 1 week Dollar to Pakistani Rupee forecast on Thursday, June, 22: exchange rate 288 Pakistani Rupees, maximum 292, minimum 284. USD to PKR forecast on Friday, June, 23: exchange rate 288 Pakistani Rupees, maximum 292, minimum 284. Dollar to Pakistani Rupee forecast on Monday, June, 26: exchange rate 288 Pakistani Rupees, maximum 292, minimum 284. USD...

On Wednesday, Pakistan Minister for "From the next month onwards, incoming dollars in Pakistan by way of exports and remittance will be more than the outgoing dollars by the way of imports and debt servicing. Therefore, pressure on the rupee would subside and the currency would appreciate," said Ismail. Despite the agreement, the ongoing political and economic turmoil in the country has raised concerns among investors, Pakistan's Business Recorder reported. This downfall of Pakistani rupees comes as Moody's Investors Service and Fitch Ratings said they expect Pakistan to secure the USD 1.2 billion bailout from the International Monetary Fund (IMF). Once the deal amount will be secured, it is expected that pressure on the country's currency and forex reserves will ease. "We assume IMF board approval of Pakistan's new staff-level agreement with the lender," Krisjanis Krustins, a Hong Kong-based director at Fitch, was quoted as saying by Bloomberg on Wednesday. "This will unlock significant additional financing from the IMF and other multilateral and bilateral sources and may well provide a significant confidence boost to the markets." Grace Lim, a sovereign analyst with the rating company in Singapore, said Moody's expects IMF to disburse the funds in the third quarter. This comes after Fitch Ratings downgraded Pakistan's outlook from stable to negative in view of the significant deterioration in the country's external liquidity position and financing conditions since early ...