LAHORE: In the interbank market on Thursday, the US dollar gained Rs4.38 against the Pakistani rupee.
About 12:15 p.m., intraday trading for the dollar began at Rs283.50. The dollar’s interbank closing price on Wednesday was Rs279.12.
In the open market, the dollar increased by 4 rupees to trade at 284.50.
According to currency analysts, a delay in an agreement with the International Monetary Fund looked to be the main cause of the rupee’s depreciation (IMF).
The market will remain unsettled until a deal is reached with the lender and payment is not made by other nations, they add.
