The Pakistani rupee appeared to have lost steam against the US dollardespite injections of billions of dollars from the IMF and the friendlycountries, and on Monday the local currency could not resist the pressurefrom the mighty greenback and depreciated in the interbank market.
According to the data collected from the money traders, the US dollar sheda few paisas in the first hour of trading on Monday but soon it hit backand soared by Rs1.41 against the Pakistani rupee.
At the moment, the greenback was being traded at Rs279 against the localcurrency.
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On Friday last, after three consecutive gains, the Pakistani rupee hadregistered losses against the US dollar, depreciating 0.41%. At close, thecurrency had settled at 277.59, a decrease of Rs1.13.
