In the interbank market, the dollar closed at Rs278.12, down 12 paisas from its previous close of Rs278.24.

In the open market, the rupee closed at Rs. 279.09 per dollar, down 29 paisas from its previous close of Rs279.38.

Last week, the country received the final $1.1 billion tranche under the nine-month stand-by arrangement in its account from the International Monetary Fund.

This came after Pakistan completed its nine-month economic reform programme supported by the IMF. In a statement on Monday, the Fund acknowledged Pakistan’s progress in achieving economic stability.