Rupee weakens against US dollar

ISLAMABAD: The Pakistani rupee registered losses against the US dollar, depreciating 0.12 percent during trading in the inter-bank market on Thursday.

At midday, the rupee was hovering at 282.98, a decrease of Re0.33 in the inter-bank market.

On Wednesday, the rupee had depreciated 0.42percent to settle at 282.65 against the US dollar.

Stock market drops down after hitting six-year high

Pakistani Rupee gained record Rs30 approximately against the greenback in October but the advance has now been halted amid the new deal negations with the International Monitory Fund (IMF) by finance ministry officials.

Pakistan and the International Monetary Fund (IMF) will begin crucial discussions on the first review of the $3 billion Stand-by-Arrangement (SBA) from today onwards amid the government’s claim that all targets have already been met.