KARACHI – Pakistani currency remains under pressure against US dollar despite positive developments on the economic front.
During the intra-bank trading on Friday, PKR depreciated by Rs0.03 against the USD, settling at 279.36.
The local currency also improved to settle at 279.33 against the greenback, per State Bank rates.
The incoming setup in Pakistan will request a new loan of at least $6 billion from the International Monetary Fund (IMF) to repay billions in debt due this year. Islamabad intends to negotiate an Extended Fund Facility with the US based lender, with talks expected to commence in April.
