ISLAMABAD: After finding stable ground in the previous two consecutive sessions, the Pakistani rupee (PKR) joined back its traditional trail of depreciation where it has lost 38 paisa against the US dollar in today’s interbank market as the currency settled the trade at PKR 174.89 per USD. The local unit had closed at PKR 174.5 per USD on February 08. Despite receiving around $1billion each from Sukuk proceeds and IMF loan, the domestic unit could not manage to gain its strength more than 1.89 rupees in the interbank market unlikely to the market expectations wherein the currency experts anticipated a notable appreciation and stability. PKR traded within a volatile range of 45 paisa per USD showing an intraday high bid of 174.85 and an intraday low offer of 174.50. The 10-day rupee-dollar parity, after spending a month in a stable zone, again started witnessing volatility in the interbank market. TLTP
