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Pakistani Rupee slides against US dollar despite news of IMF deal

Pakistani Rupee slides against US dollar despite news of IMF deal

KARACHI – Pakistani rupee comes under pressure against the US dollar, as itmoved down by 0.7 percent during the early hours of trading in theinter-bank market on Wednesday.

During the intra-day trading, the local currency dropped by Rs2.01, and wasbeing quoted at 277.45.

On Tuesday, PKR made a surprising comeback against the greenback, movingover Rs11 in light of an agreement signed with the International MonetaryFund (IMF).