The Pakistani rupee (PKR) recorded a marginal decline against the US dollar during early trading on Wednesday, slipping by 0.04 per cent in the interbank market.
By 12:40 pm, the local currency was trading at 284.78 against the dollar, down by 11 paisa from the previous close of 284.67.
So far in the ongoing fiscal year, the rupee has weakened by nearly 95 paisa, or 0.33 per cent. On a calendar-year basis, it has lost Rs6.17, reflecting a depreciation of 2.17 per cent against the greenback.
The slight dip in the rupee comes as the US dollar gained strength globally. The dollar rose alongside Treasury yields on Wednesday, as markets responded to fresh US inflation data.
In Monday’s interbank session, the rupee had fallen by 25.61 paisa, or 0.09 per cent, to close at 284.72 against the dollar. During the day, the currency fluctuated between a high of 286 and a low of 287.65. In the open market, exchange companies quoted the dollar at 286.00 for buying and 287.50 for selling.
