KARACHI: The US Dollar made 25 paisas gain against the Pak Rupee (PKR) on Monday in the interbank foreign exchange market.
The rupee depreciated during the day despite a report of inflows from the International Monetary Fund (IMF).
The rupee ended at Rs164.43 to the dollar in the interbank foreign exchange market. The local currency closed last Friday at Rs164.18.
Currency experts said that high dollar demand remained high because the market opened after two weekly holidays.
They, however, said that the market had not paid attention to inflows of $2.77 billion from the IMF scheduled to transfer today.
The rupee depreciation can also be attributed to the current account deficit for the month of July 2021.
The current account deficit reported $773 million for the month of July 2021, which was a $583 million surplus in the same month of the last year.
