Rupee sees marginal improvement against US dollar

ISLAMABAD: The Pakistani rupee saw a slight improvement against the US dollar, as it appreciated 0.02 percent during opening hours of trading in the inter-bank market on Tuesday.

At midday, the rupee was hovering at 287.50, an increase of Re0.05 in the inter-bank market.

The Pakistani rupee remained unchanged against the US dollar in the open market on Tuesday.

Oil prices drop due to uncertain demand outlook

According to forex dealers rupee was being quoted at 289 for selling and 286 for buying purposes for customers.

At the end of trading on Monday, the currency closed at 289 for selling and 286 for buying, according to data provided by the Exchange Companies Association of Pakistan (ECAP).

The American currency has continued its sharp upward trend over the past couple of weeks, as Pakistan engages in crucial talks with the International Monetary Fund to clinch the next instalment of over $700 million from a billion-dollar loan programme.