KARACHI – US dollar rises against Pakistani currency in interbank market.
The Pakistani currency, on the back of deteriorating macroeconomicindicators, continues to lose ground and cumulatively depreciate againstthe US dollar.
The rupee further lost its value by 13 paisa against the US dollar at theearly trade hours on Thursday and hit Rs159.95 in the interbank market.
Yesterday, the rupee recovered 23 paisa against the dollar in the interbank.
On Monday and Tuesday, the local currency lost its value by Rs1.71 againstthe greenback in the interbank market, which in consequence raisedPakistan’s external debt.
Read Top Stories
On last Friday, the rupee closed at Rs158.79 in the interbank market.
Despite after receiving the first tranche of $991.4 million from theInternational Monetary Fund (IMF), the Pakistani rupee has been observed tocontinue its downward trend against the US dollar.
