The State Bank of Pakistan reported that the Pakistani Rupee (PKR) maintained an upward trajectory against the US dollar in the interbank foreign exchange market on Tuesday.

The PKR experienced a gain of Rs0.072 against the greenback, resulting in a closing rate of Rs285.99. This marks an improvement from the previous day’s closing rate of Rs286.71.

Experts attribute the rise in the dollar’s value to the government’s successful fulfillment of all conditions set by the International Monetary Fund (IMF).

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Prime Minister Shehbaz Sharif recently engaged in his fourth communication with the IMF Managing Director, Kristalina Georgieva, within a span of six days.

It is worth noting that Pakistan’s ninth review by the IMF under the 2019 Extended Fund Facility, which aims to secure the release of $1.2 billion in funds, is still pending. With only three days remaining until the programme’s expiry on June 30, there is a pressing need to conclude the review process promptly.