On the first trading day of the week, the Pakistani rupee weakened slightly against the US dollar, indicating continued pressure on the local currency.
In the interbank market, the dollar rose by 11 paisas, closing at Rs. 282.77. Meanwhile, in the open market, the greenback edged up by 5 paisas, ending the day at Rs. 280.80.
Market analysts suggest that the slight uptick in the dollar's value is due to a combination of factors, including import-related payments, investor caution, and the ongoing IMF negotiations, which have created uncertainty in the currency market.
Despite the minor gain, experts believe the rupee has remained relatively stable compared to previous months, with fluctuations being short-term and driven by day-to-day trading trends.
Currency dealers also pointed out that demand for the dollar is expected to remain moderate in the coming days, depending on developments in foreign inflows and economic policy directions.
