Rupee inches up against US dollar

The Pakistani rupee registered marginal gain against the US dollar in the inter-bank market on Wednesday. At close, the local currency settled at 279.51, registering a gain of Re0.01 against the greenback. On Tuesday, the local currency closed at 279.52, against the dollar, according to the State Bank of Pakistan (SBP). Additionally, an International Monetary Fund (IMF) staff mission will visit Pakistan from February 25 to March 11 to conduct discussions on the third review under the Extended Fund Facility (EFF) programme and the second review under the Resilience and Sustainability Facility (RSF). The mission will begin engagements in Karachi with officials of the State Bank of Pakistan (SBP) before moving to Islamabad next week for talks with the government’s economic team.