The Pakistani rupee depreciated marginally against the US dollar, falling 0.04% in the inter-bank market on Wednesday. At close, the local unit settled at 278.61, a decline of Re0.11 against the greenback. On Tuesday, the rupee had closed at 278.50 after a loss of Re0.13. In recent weeks, the domestic currency has largely been around 277-279 against the dollar as Pakistan moves forward with its plan to win a longer and longer International Monetary Fund (IMF) bailout programme. Internationally, the US dollar steadied on Wednesday after hitting a four-week high against peer currencies overnight as market players awaited key US inflation data and the Federal Reserve’s updated interest rate projections due later in the day.