Pakistan, May 27 -- The Pakistani rupee continued its marginal downward trend on Tuesday, falling by 12 paisa against the US dollar in the interbank market, where it closed at Rs282.17. This slight dip comes after Monday's rate of Rs282.06, reflecting a 0.04% depreciation. Currency analysts attribute this movement to routine demand from importers and cautious market sentiment ahead of the next monetary policy meeting.
In the open market, the US dollar was trading between Rs283.50 (buying) and Rs284.40 (selling). Exchange companies reported moderate dollar demand, largely driven by small traders and travelers. Despite the slight drop, the rupee has shown relative stability in recent weeks following a sharp recovery earlier this year.
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