KARACHI: Pakistan’s rupee remained largely stable against the US dollar in the inter-bank market, and appreciated 0.1 per cent in the opening hours of trading on Wednesday.
During intra-day training, the local currency was being quoted at 221.73, an appreciation of Re0.18 against the greenback.
On Tuesday, the rupee declined for the third consecutive session to close at 221.91 after a depreciation of Re0.22 or 0.1%.
Pakistan’s ninth review talks with the International Monetary Fund (IMF) have been delayed further amid authorities’ request for a series of waivers on performance criteria owing to flood losses and the Fund’s push for sticking to committed tax-to-GDP ratio of at least 11%, reported Dawn.
“Circumstances are difficult but we have to remain in the IMF programme and make more structural adjustments,” said State Minister for Revenue Dr Aisha Ghaus Pasha while testifying before a parliamentary panel.
The talks were originally scheduled for the last week of October.
