News Formal

Pakistani rupee strengthens 2.38% versus dollar in interbank market

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 66%

United States News News

United States United States Latest News,United States United States Headlines

Pakistani rupee strengthens 3.5% versus dollar in interbank market

KARACHI, Pakistan :The Pakistani rupee on Friday strengthened 2.38 per cent in interbank closing at 278.46 rupees against the dollar, a day after the central bank raised its policy interest rate by 300 basis points to 20 per cent, trading data showed.

Pasha added that expectations of reaching a staff level agreement soon have shot up now that the government has floated the currency, withdrawn farmer/export subsidies, and imposed electricity surcharges. The sides have been negotiating a policy framework since the start of last month to agree on measures to bridge the fiscal deficit ahead of an annual budget around June.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Higher investment quantum among changes to scheme that grants PR status to eligible investorsThe changes to the Global Investor Programme (GIP) will help to strengthen support for local start-ups and create more jobs, said the Economic Development Board.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »