The Pakistani rupee registered slight gain against the US dollar in the open market on Wednesday, while the local currency also extended its uptrend in the inter-bank market.

At the end of trading, the rupee closed at 283.20 for selling and 280.79 for buying purposes, according to data provided by the Exchange Companies Association of Pakistan (ECAP).

On Tuesday, it had closed at 283.70 for selling and 281.23 for buying purposes.

In the inter-bank market, the rupee continued to march upward against the US dollar for the 11th successive session as it appreciated 0.06% on Wednesday. As per the State Bank of Pakistan, the local unit settled at settled at 282.20 after an increase of Re0.17 against the greenback.

The market awaits the International Monetary Fund (IMF) executive board meeting scheduled on January 11, which will decide on the release of the next tranche of $700 million to Pakistan under its ongoing $3 billion Stand-by Arrangement (SBA).