KARACHI – High-flying dollar moved down against Pakistani rupee as local currency continues its recovery against the greenback in inter-bank market.
In early hours of trading on Tuesday, Pakistani rupee recorded a marginal increase against the USD, currently hovering at 279.28, with jump of Rs0.08.
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On Monday, the rupee remained unchanged to settle at 279.36 against the US dollar, per State Bank rates.
Global rating agency Fitch Ratings said Pakistan’s post election crisis and resulting near-term political uncertainty may complicate efforts to secure a new financing agreement with the International Monetary Fund (IMF).
