The Pakistani rupee saw a slight improvement against the US dollar, as it appreciated 0.02% during opening hours of trading in the inter-bank market on Tuesday.
At 11:30am, the rupee was hovering at 287.50, an increase of Re0.05 in the inter-bank market.
On Monday, the rupee had depreciated for the 15th consecutive session 0.18% to settle at 287.55 against the US dollar.
In a related development, Caretaker Finance Minister Dr Shamshad Akhtar on Monday began policy-level talks with the visiting staff mission of the International Monetary Fund (IMF) on the first review of Stand-By-Arrangement (SBA) in a bid to secure $710 million of the $3 billion loan programme.
The governor State Bank (SBP), the chairman Federal Board of Revenue (FBR) as well as other senior officials of the Ministry of Finance, the FBR, the SBP and the Ministry of Energy also attended the meeting.
The IMF Mission Chief on behalf of the IMF, Nathan Porter, is leading his delegation.
Globally, the battered yen was stuck near a three-decade low against the US dollar on Tuesday, struggling to find a floor as the Bank of Japan’s (BOJ) ultra-easy monetary policy settings remained at odds with the prospect of higher-for-longer rates elsewhere.
Against the dollar, the yen last stood at 151.72, languishing near a one-year low of 151.92 hit on Monday. A break below last year’s trough of 151.94 per dollar would mark a fresh 33-year low for the yen.
Oil prices, a key indicator of currency parity, inched up on Tuesday on expectations of healthy market fundamentals, following an OPEC report saying demand remains strong, and concerns that supplies might be disrupted as the US cracks down on Russian oil exports.
Brent crude futures gained 30 cents, or 0.36%, to $82.82 a barrel by 0413 GMT.
This is an intra-day update
