US Dollar Continues to Climb in Interbank Market, Reaches Rs278.60

The US dollar maintained its upward momentum in the interbank market on Thursday, increasing by eight paisas and bringing its value to Rs278.60. This rise follows a similar increase on Wednesday when the dollar gained 11 paisas, reaching Rs278.45.

The recent surge in the dollar’s value is attributed to the continued delay in the approval of Pakistan’s much-anticipated $7 billion bailout package from the International Monetary Fund (IMF). Sources have revealed that Pakistan’s name has not been included in the latest IMF Executive Board meeting schedule, which runs through August 30. The board will review applications from three countries, including Vietnam, during this period, but Pakistan’s request for financial assistance has been postponed until next month.