November 10, 2021 (MLN):  Pakistani Rupee (PKR) continued its downward slide as it has lost another 1.23 rupees against the US Dollar (USD) in intraday trade at (11:51 PST) on Wednesday in an interbank market.

However, the rupee has managed to recover some of its losses after falling to 172.86.

The dollar was being quoted at 172.32/53 (12:06 PST) while the local currency on Tuesday had closed the trade at 171.63 per USD.

Despite tough measures and reforms, the delay in the resumption of the $6 billion International Monetary Fund (IMF) program for Pakistan is causing unrest. The market is still nervous and yesterday PKR lost 112 paisa.

“After PM’s Saudi visit, it was expected that the loan deposit will be credited in SBP account and simultaneously the stalled IMF loan program will resume,” Asad Rizvi, the former Treasury Head at Chase Manhattan.  

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