The Pakistani rupee slightly increased in value against the US dollar in the inter-bank market. It appreciated by 0.01% and settled at 286.71 rupees against the dollar. This followed a decline in the rupee’s value on Friday. During the previous week, the rupee remained stable and traded within a narrow range. The IMF Executive Board meetings scheduled until June 29 did not include Pakistan on the agenda, as the review under the EFF program is still pending. The government imposed an additional 215 billion rupees in taxes to resume the IMF program. Internationally, the US dollar remained near a one-week high against other currencies as traders considered the impact of monetary tightening on global growth. Oil prices fell after a revolt by Russian mercenaries, but it did not immediately affect oil supply.

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By hassani

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