The dollar gained Rs1.35 against the rupee in the interbank market on Monday, the central bank said. The foreign currency closed at Rs297.13.

The foreign currency closed at Rs295.78 on August 18, according to the State Bank of Pakistan.

The interim setup has formed a committee for the revival of the economy, Information Minister Murtaza Solangi announced the decision last week.

“Members from ministries of finance, planning, and the SIFC would be part of the committee,” he said at his maiden press conference in Islamabad.

The rupee has been falling since the caretaker government came to rule. The Anwaarul Haq Kakar-led government has highlighted that boosting the economy was being given the main focus.

The interim setup has defended the increase in petrol rates by saying that Pakistan has to abide by the International Monetary Fund agreement.