KARACHI: Pakistani rupee remained largely stable against the US dollar in the interbank market for the second straight session and inched up by 2 paisas on Wednesday. According to details, the rupee opened at 278.12 against the greenback in the interbank market and closed at 278.10, rising by 0.01 percent. The local unit gained 12 paisas on Tuesday last. The rupee appreciated by around 18 paisas against the US dollar last week. The local unit closed at 278.21 against 278.39 it had closed the week earlier, as per the SBP. Finance Minister Senator Muhammad Aurangzeb said during a press conference on Tuesday that the Monetary Policy Committee (MPC) of the SBP may consider the interest rate cut in June or July as inflation is showing signs of decline. The minister said that the country’s economic indicators are going in the right direction and have increased the confidence of foreign investors in the economic governance of Pakistan. Aurangzeb said that export-led growth, Foreign Direct Investment (FDI), and excess to capital were the priority of the government. He also highlighted the positive trend in foreign exchange reserves. TLTP
