Karachi: Rupee was up slightly against dollar, appreciating 0.09 percent in inter-bank market. As per State Bank of Pakistan (SBP), rupee settled at 283.66, gain of 0.26 paisa.

Day earlier, rupee failed to hold ground against dollar, closing at 283.92 in inter-bank market, an increase of 0.37 paisa.

In key development, Minister of State for Finance Dr Aisha Ghaus-Pasha said that staff-level agreement on 9th review was taking time because International Monetary Fund wants to independently verify commitments from friendly countries Saudi Arabia and United Arab Emirates.

Internationally, US dollar was on front foot on Thursday as receding concerns over banking sector helped improve risk sentiment, with investors switching their attention to Federal Reserve’s battle against inflation. Dollar Index, which measures currency against six major peers, rose 0.097 percent at 102.73, after gaining 0.19 percent overnight. index though was on course to clock 2 percent decline for March due to market tumult induced by problems in banking industry.

Published in The Daily National Courier, March, 31 2023

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