KARACHI – Pakistan rupee on Monday continued downward trajectory against the US dollar amid economic uncertainty.
During the intra-day trading, the local currency registered losses against the greenback, depreciating nearly 0.46 percent on the first working day of the week.
The Pakistani rupee was quoted at 285.96, a decrease of Rs1.31 against the US dollar in the interbank market.
Last week, PKR plummeted by 0.3 percent against the US dollar to close at 284.65 in the inter-bank market.
Rupee performed poorly with a single gain last week, despite a positive outcome from International Monetary Fund (IMF) front.
Amid the economic meltdown, Finance Minister Ishaq Dar assured that the staff-level agreement between Islamabad and global lender delayed in confirmation of funding from a friendly nation.