IMF talks put rupee on the edge

KARACHI: The rupee is likely to face more pressure against the dollar until the International Monetary Fund completes its first review of the country’s $3 billion loan program, a report by a financial terminal said Saturday. The rupee has depreciated by about 2 rupees, or 0.60 percent, to the dollar this week, ending at 287.03 on Friday, after closing at 285.29 on Monday. The foreign exchange market was shut down on Thursday for a public holiday. The IMF’s mission began its review of Pakistan’s bailout package on November 2 and is expected to conclude by December 15. The review will determine whether Pakistan will receive the second tranche of $700 million in December. The country received $1.2 billion in July…