Pakistani Rupee weakens further against the US dollar in the interbank market

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Pakistani Rupee weakens further against the US dollar in the interbank market

KARACHI: After days of rally, the Pakistani rupee gave up some of the recent gains against the United States (US) dollar in the interbank market on Wednesday.

According to the State Bank of Pakistan (SBP), the dollar appreciated by 64 paisa to Rs160.46 against the local unit.

On Tuesday, the closing rate of the greenback was Rs159.82.

Last month, the rupee had hit a seven-month high of Rs158.70 against the dollar, becoming the third best-performing currency in Asia. The local unit cumulatively appreciated by Rs9.73 or 3.1 per cent against the greenback over the past two and a half months since touching an all-time low of Rs168.43 in August last.