USD to PKR: Pakistani rupee remains stable against dollar in interbank

KARACHI – Pakistani rupee remained stable against the US dollar in the inter-bank market on the first working day of the week.

The local currency moved down by 0.01pc during the opening hours of trading and was being traded at 285.17.

Last week, PKR moved up marginally in the inter-bank market however the gap in the open market rates remained amid economic uncertainty. On Friday, the rupee settled at 285.15, strengthening in three of the five sessions.

The continued delay in the bailout funds from International Monetary Fund (IMF) continues to hamper the money market sentiment.

Lately, the country’s finance czar Ishaq Dar said Pakistan will share its upcoming budget details with the multilateral lender to salvage much-needed funds.