Canada Global (Web News) Tuesday’s interbank trade saw a loss of Rs3.26 for the Pakistani rupee against the US dollar. In the open market, the value of the dollar increased to Rs3.50 more than the local currency.
Around 12:15 p.m., the local currency was trading at Rs. 291.75 in the interbank market and Rs. 301 on the open market.
The local currency lost 0.52 percent during the previous week, ending the week at 288.49 versus the US dollar.
A well-known currency broker claimed that the rupee’s depreciation was “expected” since, according to the terms of the agreement with the International Monetary Fund (IMF), there should be a 1% differential between the open market and the interbank market.