The Pakistani rupee appreciated against the US dollar in the interbank market, closing at Rs280.36 on Friday, marking a gain of 75 paisa or 0.27% from the previous close of 281.11.
The surge follows the approval of a $700 million IMF loan tranche on Thursday, part of a $3 billion bailout package.
The loan aims to support Pakistan’s economic stabilization program and facilitate social and development spending.
The IMF commended Pakistan’s fiscal discipline, exchange rate flexibility, monetary policy tightening, and structural reforms, contributing to positive developments in the energy sector, state-owned enterprises, and climate resilience.
With increased foreign exchange reserves of $16.383 billion, attributed to the IMF disbursement and other official inflows, the State Bank of Pakistan reported eased external debt repayment pressure and boosted confidence in the Pakistani rupee.
