"USD-PKR Exchange Rate Shifts After Final Round of IMF Discussions"

In a significant turn of events, the US Dollar faced a setback against the Pakistani Rupee following the successful negotiations between Pakistan and the International Monetary Fund (IMF). The Pakistani Rupee surged to a new high, gaining 16 paisas against the US Dollar in interbank trading, reaching Rs278.25.

After the announcement of the deal with the IMF, the US Dollar experienced a decline of 23 paisas in value against the Pakistani Rupee, closing at Rs278.41 in interbank trade. In the open market, the exchange rate stood at Rs281.12.

The fruitful discusasions between Pakistan and the IMF culminated in a staff-level agreement on the final review under the stand-by arrangement, pending approval from the IMF’s Executive Board. As part of this agreement, Pakistan is set to receive the last installment of $1.1 billion from the $3 billion loan agreement next month.

Upon the approval of the IMF Executive Board, Pakistan will receive the final tranche, marking the conclusion of the current $3 billion standby arrangement. The IMF has commended Pakistan's economic efforts, recognizing the country's commitment to implementing necessary reforms.

This positive development has not only boosted the Pakistani Stock Exchange, which has remained bullish for the fourth consecutive day but also instilled confidence in the country's economic outlook.

For more details:

- PKR outperforms USD in interbank trading, reaches Rs278.41 post IMF agreement

- Successful negotiations: Pakistan and IMF agree on $1.1 billion installment

- Final round of talks between Pakistan and IMF concludes after a one-day extension, signaling progress in economic cooperation