KARACHI (our reporter) :- The Pakistani rupee has plunged further and crossed the 210 threshold against the US dollar in the inter bank market on Monday.

The Pak Rupee against US$ closed at Rs209.96 in the inter-bank market after losing Rs.1.21, or 0.65 percent, according to the State Bank of Pakistan (SBP).

During the last seven days, PKR has decreased by almost six days by consecutively daily basis against green currency.

The central bank has seemed helpless in controlling the speculative fall in the rupee as demand for the US dollar continues to increase due to quarter-end payments pressure.

Some analysts believe that the local currency against greenback currency will continue to fall until Pakistan manages to strike a staff-level agreement with the International Monetary Fund (IMF).

On the other hand, Finance Minister Miftah Ismail has claimed that the government and IMF will reach an agreement within one or two days.

Talking with media in parliament, Miftah said that the stalled IMF program will be revive within a day or two. He said that he is very optimistic that the IMF program will be revived.

By adminmy

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