KARACHI – Pakistani rupee failed to put up any resistance and depreciated by Rs0.67 against the US dollar in the interbank market on the first working day of the week.
During the intraday trading, the local currency saw a marginal decline against the greenback, depreciating nearly 0.25 percent in the early hours of trading.
PKR was quoted at 281.44, with a slight decrease against the US dollar. In the last week, the Pakistani rupee plunged by 0.82 percent against the dollar, settling at 280.77 despite the country getting inflows from China.
Despite the much-needed relief from Beijing, investors’ confidence remained dented over the continued delay in the International Monetary Fund (IMF) bailout programme.
This is a developing story, and will be updated later…
