Pakistani Rupee losses against Dollar, Pound

Pakistani Rupee losses against Dollar, Pound

KARACHI  – United States Dollar and British Pound have gained in value on Wednesday following which Rupee went down in open market.

According to the fores dealers, US Dollar now stands at Rs 107.50 while British Pound at Rs 142.80. Reportedly, demand for Dollar among other currencies has boosted in the ongoing week compared to what was witnessed in the last week.

On the other hand, Chinese president Xi Jinping vowed to further open China s economy to the world, but foreign companies and investors who have complained of "promise fatigue" called for deeds rather than words.

Xi made his pledge during a wide-ranging speech to open a week-long Communist Party congress that will hand him a new five-year term as general secretary.

"Openness brings progress for ourselves, seclusion leaves one behind. China will not close its doors to the world, we will only become more and more open," Xi told some 2,300 party delegates in Beijing.

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