The Pakistani rupee is getting weaker against the US dollar in both the open market and the inter-bank market. In the open market, the rupee is being sold for 287.50 and bought for 284.50. On Monday, it was bought for 284 and sold for 287. In the inter-bank market, the rupee is at 286 against the dollar. According to the International Monetary Fund (IMF), the rates in both markets should be close, with a difference of less than 1.25%. Currently, Pakistan and the IMF are discussing the first review of a $3 billion loan. Pakistan has almost met all the conditions for the review, and it is expected that the IMF will approve a second tranche of $700 million, which will increase foreign exchange reserves. The central bank of Pakistan reported a small increase of $14 million in foreign exchange reserves, bringing it to $7.50 billion.
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