USD to PKR: Pakistani rupee fights back against US dollar despite IMF uncertainty

KARACHI – Pakistani rupee resuscitated itself Tuesday against the US dollar in the interbank market by recording slight gains.

During the intra-day trading, the local currency appreciated by Rs0.28 against the US greenback and was quoted at 283.30.

On Monday, PKR was unable to continue momentum against the high-flying dollar, settling at 283.58 in the inter-bank market, with a decrease of Re0.38.

In the international market, US dollar plummet for the second day as receding fears of a major banking crisis sapped demand for the safest assets.

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