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US dollar shows depreciation against the PKR in interbank market

US dollar shows depreciation against the PKR in interbank market

KARACHI: The US dollar (USD) after lingering past the Pakistan Rupee (PKR) in the past month lost its value and showed a slight decrease in interbank market. The greenback registered a depreciation of 5 paisa against the Pakistani Rupee at the start of trading for the day. The current value of the dollar against the rupee stands at Rs 155.04 from the previous 155.09 in the interbank market. ADB approves loan worth 1 billion dollars for Pakistan The Asian Development Bank (ADB) today approved $1 billion in immediate budget support to Pakistan to shore up the country’s public finances and help strengthen a slowing economy. The quick dispersing Special Policy-Based Loan is part of a comprehensive multi-donor economic reform program led by the International Monetary Fund (IMF) to stabilize Pakistan’s economy after a major deterioration in its fiscal and financial position in mid-2018 caused growth to slump and threatened progress in alleviating poverty.