The Pakistani rupee recorded marginal loss against the US dollar in the interbank trade on Monday, as markets anxiously wait for the IMF decision on loan revival programme. As per the information obtained from money traders, the local currency depreciated by 26 paisas against the greenback and was currently being traded at Rs287. On the last trading day Friday, the Pakistani rupee had ended its three-day winning streak against the US dollar and settled at 286.74. During the previous week, the local currency remained largely stable and traded in a narrow range over the five-day period. The local currency recovered 52 paisas or 0.2% to end the week at 286.74.

 Earlier it was learnt that Pakistan is not on the agenda of the International Monetary Fund (IMF) Executive Board meetings scheduled till June 29, as the 9th review under the Extended Fund Facility (EFF) programme remains pending. Later on Saturday, the government had imposed Rs215 billion in additional taxes, announced Finance Minister Ishaq Dar, as Islamabad eyed to resume the IMF programme.

Credit : Independent News Pakistan-INP