KARACHI: The US dollar rate in Pakistan experienced marginal loss by Re0.25 (25 Paisa) to Rs284.50 in the open market on Thursday (Dec 21).
During the day, currency dealers said the rupee was being quoted at 284.25 for selling and 281.25 for buying purposes for customers.
At close, the currency settled at the same rates, according to data provided by the Exchange Companies Association of Pakistan (ECAP).
On Wednesday, it had settled at 284.50 for selling and 281.50 for buying purposes.
Meanwhile, in the inter-bank market, the rupee maintained its momentum against the US dollar for the eighth consecutive session as it appreciated 0.04% on Thursday.
As per the State Bank of Pakistan, the local currency settled at 282.79 after an increase of Re0.11 against the greenback.
Experts said that the currency is expected to remain stable as the market awaits the International Monetary Fund (IMF) executive board meeting, which is scheduled on January 11.
The IMF’s executive board will decide on the release of the next tranche of $700 million to Pakistan under its ongoing $3 billion Stand-by Arrangement (SBA).
