The US dollar has weakened against the Pakistani rupee in recent trading sessions in the foreign exchange market.
Currency dealers reported that at the opening of the business week, the rupee appreciated in the interbank market, with the dollar declining by 11 paisas to settle at Rs278.20.
Previously, at the close of the last business week, the dollar had also fallen, dropping 15 paisas to a rate of Rs278.25 in the interbank market.
During a recent roundtable with Bloomberg in Washington, the Finance Minister highlighted positive economic indicators for Pakistan. He noted increased remittances and exports, suggesting that the rupee’s value is expected to stabilize amid ongoing negotiations with the International Monetary Fund (IMF). The minister also argued against the routine expectation of an annual rupee depreciation of more than 8%.
The minister projected that Pakistan’s economic growth rate would surpass 4% in the next year.
