Pakistani rupee continuing its ‘resilience’ against the American currency appreciated 0.3% during the inter-bank trading on Friday.
The local unit is being traded at Rs286.55, with an increase of around Rs1—83 paisas— in the inter-bank market.
The rupee broke the previous downward 17-session depreciation streak and reached Rs287.38 against the US dollar on Thursday closing.
Caretaker Finance Minister Dr Shamshad Akhtar said that Pakistan inked a staff-level agreement (SLA) with the International Monetary Fund (IMF).
She assured that external financing would not pose a challenge, citing expected inflows in December 2023 that would contribute to boosting foreign exchange reserves.
Dr Shamshad said that the country's total liquid foreign exchange reserves witnessed a decline of $79 million in the previous week due to external debt servicing, settling at $12.535 billion as of November 10.