KARACHI, Nov 14: The Pakistani rupee ended marginally firmer on Friday due to some inflows and dealers said Standard & Poor’s cut in the country’s sovereign ratings had no impact as it came out after market hours.

The rupee ended at 80.15/25 to the dollar, compared with Thursday’s closing of 80.29/39. The rupee is 23 per cent weaker since the start of the year.Dealers said they were closely watching for Pakistan to secure an emergency package from the International Monetary Fund.

Pakistan has asked the IMF for a $9 billion bailout along with help from other lenders to avert a balance of payment crisis, a finance ministry official said on Friday.

A government official told Reuters on Friday that the letter of intent would probably be sent before Monday, when potential donors are due to gather in Abu Dhabi for a “Friends of Pakistan” conference.

Pakistan is currently facing a balance of payment crisis with inflation running over 25 per cent, widening current account and fiscal deficits and depleting currency reserves. The central bank spokesman said on Friday it received $200 million from the IDB on Nov 7 as the country’s reserves are barely enough to cover nine weeks of imports.—Reuters