Rupee stabilises against dollar at 283.55.

KARACHI -- Pakistani rupee continued to stabilise around current levels on Tuesday as it inched up 0.01%, or Rs0.03, and closed at Rs283.55 against the US dollar in inter-bank market.

The rupee managed to inch up owing to low demand for dollar amid critically low foreign exchange reserves of the country at $4.6 billion.

The currency has continued to move in a range of Rs281-284/$ for the past three weeks, according to the State Bank of Pakistan's (SBP) data.

Market talk suggests the rupee-dollar exchange rate remained largely stable throughout the day, as there was no major import payment pressure.

Experts said that the demand for dollar dropped partly in the wake of withdrawal of the condition of 100% advance payment for imports with effect from March 31, 2023.

Moreover, supply of the US greenback...