Tuesday’s interbank market saw the US dollar continue to strengthen against the Pakistani rupee, according to the State Bank of Pakistan.
The local currency declined by Re0.33, according to the SBP, and closed at 226.45 against the dollar in the interbank market.
The open market price for the dollar is between Rs. 231 and 235, according to foreign exchange brokers.
It is important to note that the Pakistani rupee has been under pressure for a few weeks due to talks between Islamabad and the IMF over the ninth review of a $7 billion loan program.
Prior to the discussions on the ninth review of a $7 billion loan program, the International Monetary Fund (IMF) requested that Pakistan cut back on spending.