KARACHI: The Pakistani rupee has strengthened against the US dollar in intraday trading on Friday.
Forex dealers reported that the PKR has appreciated by Re0.32 and is currently trading at Rs284.95 in the interbank market.
The local currency is being traded at Rs286 in the open market, according to forex dealers.
The rupee closed at 285.27 against the US dollar on Wednesday.
The International Monetary Fund (IMF) announced that its staff and Pakistani authorities have reached an agreement on the first review of the $3-billion Stand-By Arrangement (SBA) last week.
The IMF executive board is expected to approve the staff-level agreement with Pakistan on December 7.
After the approval, sources indicate that around US$700 million will be available to Pakistan, bringing total disbursements under the program to almost US$1.9 billion.
Pakistan is also expected to receive $1 billion from Gulf countries and $1.2 billion from Exim Bank, while China has assured debt rollover for a further two years.