The Pakistani rupee was back in top gear against the US dollar as the localcurrency listed a solid performance in the interbank market on Wednesday.
The rupee, which also traded in positive territory against the greenbackall day long on Tuesday but faltered towards the end of trade, again flexedits muscles in Wednesday and went up by a healthy margin of Rs2.95 andended the day at Rs273.33.
On Tuesday, the local currency depreciated by 0.35% in the inter-bankmarket. As per the State Bank of Pakistan (SBP), the Pakistani currencyclosed at 276.28 against the US dollar, a decline of 98 paisas.
The currency has depreciated by 25.82% during the ongoing fiscal yearagainst the greenback.
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Experts believed that the rupee stumbled on Tuesday because of the returnof the pressure regarding conclusion of the technical-level talks betweenPakistan and the International Monetary Fund (IMF) team. The policy-leveldiscussions were expected to start soon.
