KARACHI: The Pakistani rupee slightly depreciated against the US dollar in the inter-bank market as trading resumed after four holidays on Monday.
The local currency was being quoted at 283.50 during the early hours of trading after a decline of Re0.3 against the greenback in the inter-bank market.
During the previous week, the rupee fell by 0.53% against the US dollar to settle at 283.2 in the inter-bank market. The decline was followed by two days of appreciation that covered up for the losses.
However, the local currency remained vulnerable amid a stalled programme with the International Monetary Fund and reports that the staff-level agreement was still being negotiated.
