KARACHI: After closing at Rs.170.7 on Monday, Dollar gained Rs.1.3 value against rupee at the interbank market. The greenback closed the day at Rs.172.
Rupee had witnessed a steady decline since May earlier this year but gained value of late amidst news of IMF extending the $6 billion loan facility and Saudi Arabia announcing the $3bn support package. A news outlet had reported here on Tuesday that the PM had ‘dropped’ the plan to seek IMF chief’s help on the $6bn deal.
However, Finance Minister Shaukat Tarin took to Twitter and said that the report was ‘completely flawed and baseless’.
The news ‘PM drops plan to seek IMF chief’s help” is completely flawed and baseless. Such proposal was never under consideration. The media reporters in the ‘Kamyab Jawan’asked about PM call to IMF chief. My reply was that negotiations are in advance stage and no need for call
— Shaukat Tarin (@shaukat_tarin) November 9, 2021
Hitting an all-time high last month, Dollar’s value continues to surge as rupee struggles amidst high inflation.