Finance Minister Shaukat Tarin said on Saturday that the Pakistani rupee has shown a sharp recovery against the US dollar after approval of a $1 billion loan tranche from the International Monetary Fund (IMF).
He said this while on a four day official visit to China, where he is accompanying Prime Minister Imran Khan.
Moreover, Shaukat Tarin has predicted that the rupee would continue to recover in the days to come.Â
On Friday the rupee jumped 0.6 per cent against the US dollar in the interbank market. In addition the rupee has also shown an increase of Rs1.04 against the dollar, which is the biggest single day rise since November 17.
After the successful completion of the 6th review of the IMF program, State Bank of Pakistan (SBP) received a $1.053 billion loan tranche.Â
What a reason for appreciation? It is worrisome.
Trade imbalance. High oil, edible oil, oilseed, fertilisers – all imported products.
Then take 1 billion dollar more, all our problems will be sorted out. What pathetic logic 🙃
Excellent comment Arsalan!
Pathetic Logic
You are saying that taking a loan has proven good? It looks like an argument from a mentally disabled and immature child.