KARACHI – Pakistani rupee continues to remain under pressure against the US dollar, and on Thursday, the local currency further plunged on Thursday.
During the intra-day session, PKR hovered around 282.98, with a loss of around Rs0.33 in the inter-bank market.
In previous session, Pakistani rupee depreciated and settle at 282.65 against the US dollar.
The recent loss was the rupee’s ninth successive negative session in interbank as demand for the greenback rises.
Meanwhile, the rupee is expected to bounce back as Pakistani government and International Monetary Fund (IMF) will start discussions on the first review of the Stand-by-Arrangement (SBA) from today.
Last month, the Pakistani rupee touched its all-time low of Rs307, but stringent measures and massive crackdown brought local currency on track and it witnessed the longest appreciation runs in recent times.
