ISLAMABAD, Mar 09 (NNI): The US dollar on Thursday provided no breather to the Pakistani rupee and knocked it down as the trading was set into motion in interbank market.
According to the information put forward by the forex dealers, the greenback sped up to Rs282.50 by noon adding Rs3.38 more to its value.
On Wednesday, after three successive gains, the local currency reverted to its losing ways against the US dollar, depreciating by 0.45%. As per the State Bank of Pakistan (SBP), the rupee settled at 279.12 against the greenback, a decline of Rs1.25 in the inter-bank market.
In a key development, Pakistan’s total (domestic and external) debt stock rose to the Rs55-trillion mark at the end of January because of massive borrowing and rupee depreciation.
According to the SBP, the central government’s total debt stock recorded an increase of 15% during the first seven months of current fiscal year.
Pakistan, currently battling rising debt and its repayments, remains engaged with the International Monetary Fund (IMF) over revival of its stalled bailout programme. NNI
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