Interbank Market – PKR under pressure against USD dollar

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KARACHI – Pakistani rupee remained under pressure against the US dollar, depreciating 0.06 percent in the interbank market on the first working day of the week.

During the early hours of trading, the local currency registered a marginal loss against the greenback, falling Rs0.16. PKR was being quoted at 284, a day after the currency market remained closed on Monday due to Labour Day.

Last week, the rupee saw a slight gain against the US dollar as it settled at 283.84 in the inter-bank market.

The local currency remained stable after the Eid holiday due to the current account surplus however continued delay in International Monetary Fund (IMF) dented the market sentiment.

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