KARACHI: The Pakistani Rupee faced a slight setback in the inter-bank market on Tuesday as it fell by almost 0.06% against the US Dollar. At around 10:30 am, the currency was being traded at 284, a decrease of Re0.16. The currency market had remained closed on Monday due to the Labour Day holiday.
The American currency however remained unchanged at Rs290 in the open market.
It may be recalled that during the previous week, the Pakistani Rupee remained relatively stable, with a current account surplus and a lack of progress on the International Monetary Fund (IMF) programme playing a crucial role. However, the rupee had registered a marginal increase against the US Dollar on Friday, settling at 283.84 in the inter-bank market.
Meanwhile, the United States has urged Pakistan to move forward with stalled reforms requested by the IMF, promising technical assistance and encouraging the country to implement policies that promote an open, fair, and transparent business environment.
Experts say the market is now waiting for the resumption of the IMF programme, which has been stalled to date. The situation remains fluid, and analysts are closely monitoring developments in the foreign exchange market.
