KARACHI: The announcement of reaching a stafflevel agreement with the IMF made no big impact on the exchange rate parity as the US dollar lost just 30 paise against the rupee on Thursday.

The greenback lost 0.14 per cent to close at Rs209.80 in the interbank market. It was traded at Rs210.10 on Wednesday and was appreciated by Rs2.19. Bankers said the impact of the IMF agreement was not significant since many in the media indicated that the IMF tranche is still two months away. The open market reported that the dollar price was down by Re1 while it was traded at Rs210.

SBP reserves fall Meanwhile, the State Bank of Pakistan reported that its foreign exchange reserves declined by $99 million to $9.717 billion during the week ended on July 7.

The holdings of commercial banks were $5.893bn while the country`s total reserves were at $15.610bn during the week.-Staf f Reporter