According to the State Bank of Pakistan (SBP), the Pakistani currency has maintained its upward trend against the US dollar for the fourth consecutive working day in the interbank market.
The local unit (PKR) has recovered Rs0.59 against the USD, closing at Rs285.15, while the US dollar closed at Rs285.74 on the previous day.
In contrast, the open market has seen the dollar being sold at over Rs300. Last week, the rupee reached a record low of Rs298.93 against the US dollar.
Experts attribute the fluctuation in the dollar rate to the deadlock over the IMF deal and ongoing political unrest in the country.
Due to the delay in the revival of the $6.5 billion International Monetary Fund (IMF) bailout programme, Pakistan is now seeking additional funding from friendly nations.
The staff-level agreement between the International Monetary Fund and Pakistan, initially scheduled for February 9, has been postponed.
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