The Pakistani rupee recorded a marginal loss to the US dollar as it depreciated 0.6% in the interbank trading on Tuesday. According to the forex dealers, the local currency dropped by 13 paisas against the greenback and was currently being traded at Rs279.25. On Monday, the Pakistani rupee had also ended down 0.11% against the US dollar, settling at Rs279.12, losing 32 paisas. In a related development, the Ministry of Finance (MoF) had reportedly asked all ministries/divisions to be ready for the first review of the International Monetary Fund’s (IMF) Standby Arrangement (SBA) to ensure successful completion of the review. A favourable review by the Washington-based lender will pave way for release of the second tranche and funding from other multilateral partners. Meanwhile, the Economic Coordination Committee (ECC) of the Cabinet had approved a massive increase in gas tariff.

 
Credit: Independent News Pakistan (INP)