KARACHI - The value of Pakistani currency depreciated against the US dollar in interbank market on Monday For a seventh straight session, the Pakistani currency hit a low against the US dollar. Since the morning, it moved both ways within a range of Rs156.50 to Rs 157.07.  Updates showed the rupee stood at Rs156.96, up by Rs1.12 from Friday’s closing rate of Rs155.84.

Speculation within the market suggested the rupee was heading towards the IMF-dictated level of Rs160-165. The government, however, has time and again denied that any such agreement was part of IMF deal.