KARACHI – Pakistani rupee remained under pressure against the US dollar,depreciating 0.14 percent in the interbank market on the first working dayof the week.
During the trading, the local currency recorded marginal losses against thegreenback. PKR was hovering at 284.8, with a decline of Rs0.4.
Last week, the Pakistani rupee further plunged 0.09pc against the US dollarin wake of the ongoing economic crisis.
The development comes as reserves held by State Bank further plunged atless than one month of import cover, underscoring the need for resumptionof the programme.
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Earlier, inflow from Saudi Arabia and UAE affected market sentiment but alleyes are on the IMF bailout package as the country is facing the worsteconomic crisis in recent memory.
