KARACHI – Pakistani rupee on Thursday witnessed meager gains against the US dollar in the interbank.
During the interbank trading, the local currency appreciated Rs0.12 during the early hours and was quoted at 283.80 against the greenback.
On Wednesday, PKR closed at 283.92 in the inter-bank market, with a depreciation of Rs0.13 percent.
Investors’ confidence is dented amid extended delay in bailout funds from International Monetary Fund (IMF). The government officials claimed that progress was recently made and hopefully there will be positive news.
Rupee could not get the expected boost despite China’s inflows and now it is expected that Saudi Arabia and the UAE will help South Asian nation to avert debt default.
More to follow…
