KARACHI: The rupee registered slight recovery against the US dollar in the open-market, and was selling at 330 during trading on Monday.
The local currency was being quoted at 330 for selling and 327 for buying purposes for customers in the open-market.
Earlier during the day, the USD was being traded at 334.5 for selling and 331.5 for buying.
Meanwhile, the rupee recorded a marginal improvement in the interbank, appreciating 0.14% on Monday.
At 11:20am, the rupee was hovering at 305.05, an increase of Rs0.42, in the inter-bank market.
After the government eased import restrictions, a crucial requirement of the International Monetary Fund (IMF), the currency has been under pressure when compared to the US dollar, particularly in the open market.
Economic analysts have advised the authorities to develop ways to entice dollar inflows because the local currency’s value is rapidly declining as a result of reserve depletion.
According to information released last week, the foreign exchange reserves held by the nation’s central bank are roughly $7.85 billion.
