Pakistani rupee registered a marginal decline against the US dollar in the inter-bank market and depreciated 0.14% in the opening hours of trading on Thursday.

At around 10:25 am, the rupee was being quoted at 220.99, a depreciation of Re0.31 against the greenback, during intra-day trading. On Wednesday, the Pakistani rupee reverted to its old ways against the US dollar and closed at 220.68 after depreciating Re0.95 or 0.43%.

Experts attributed the rupee’s decline amid political uncertainty after Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan on Tuesday announced the start of a long march from Lahore to Islamabad on Friday (October 28), causing negative sentiment among market players.

In another key development, the Asian Development Bank (ADB) on Wednesday released $1.5 billion for Pakistan to support the economy and rehabilitate the affected people in the wake of recent floods.

State Bank of Pakistan (SBP) received $1.5 billion from ADB in value on 26 October 2022 as a disbursement of a policy-based loan for the Government of Pakistan.

These proceeds have increased the FX reserves of SBP and will be reflected in the reserves for the week ending 28 October 2022,� the central bank said in a tweet on Thursday