KARACHI: The Pakistani rupee marginally gained against the US dollar in the inter-bank market on Wednesday.
The rupee was being quoted at 283.40, after an increase of Re0.15 against the greenback, in the inter-bank market during the early hours of trading.
A day earlier, local currency remained largely stable, settling at 283.55 in the inter-bank after an increase of Re0.03 or 0.01%.
All eyes on resumption of IMF programme
The small gain in the value of rupee comes as all eyes are on the resumption of the International Monetary Fund’s (IMF) Extended Fund Facility (EFF) programme.
Prime Minister Shehbaz Sharif on Tuesday claimed that the lender was onboard with the new programme but had asked for the fulfilment of external financing commitments from friendly countries before it releases bailout funds.
The government was hopeful that the commitments from friendly countries will also be done, the premier told Parliament in a speech.
The government and IMF have been in negotiations since early February to resume $1.1 billion in funding held since November, which is part of a $6.5 billion bailout agreed in 2019.
