Pakistani Rupee posts marginal recovery against US dollar
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KARACHI – Pakistani rupee witnessed a marginal loss against the US dollar, depreciating 0.14percent during the early hours of trading in the inter-bank market on Monday.
During the intra-day trading, the local currency hovered at 284.20, a decrease of Rs0.41 against the USD.
Last week, PKR registered a marginal drop against the greenback, depreciating by 0.05 percent in the interbank market.
All eyes are on the Pakistan-IMF deal as Finance Minister Ishaq Dar said technical-level discussions with the global lender are over while the government is making all-out efforts to salvage crucial funds.
Amid economic uncertainty, forex reserves held by the country’s central bank plunged by $354 million, hovering at $4.2 billion as of March 24.
