The value of the US dollar continued its upward trend in the interbank market, increasing by eight paisas on Thursday. This rise brings the dollar to Rs278.60 in the interbank exchange.
On Wednesday, the American currency had gained 11 paisas against the Pakistani currency and reached Rs278.45.
The increase in the value of US dollar comes as the approval of a much-anticipated $7 billion bailout package from the International Monetary Fund (IMF) for Pakistan was delayed once again.
Also Read: US dollar thrashes Pakistani Rupee in interbank trading
According to sources, Pakistan's name was not included in the latest schedule of the IMF Executive Board meeting, which was released through August 30.
The IMF board will review applications from three countries, including Vietnam, between August 28 and 30. However, Pakistan's request for a new loan program has been postponed until next month, further prolonging the country's wait for financial assistance.
