KARACHI – Pakistani rupee shows resistance against the US dollar on the first working day of the week as intra-day trading starts after a long weekend.
During the early hours of trading, the local currency hovered at 305.25, moving up by 22 paisas.
Last week, the embattled unit remained under pressure against the greenback and depreciated massively as uncertainty looms large.
Removal of import restrictions created pressure on import payments, and increased demand of greenback while the International Monetary Fund (IMF) condition to maintain a currency gap between interbank and open-market kept the rupee under pressure.
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