Dollar resumes uptrend against rupee

A currency dealer is counting Rs5,000 notes. — AFP/File
  • Local currency changes hand at Rs168.68 with the US dollar in the inter-bank market.
  • The currency depreciates around 0.09% against the greenback.
  • The dollar index stood at 93.226 in early Asian trade.

KARACHI: The rupee weakened against the US dollar on Wednesday, closing at Rs168.68 in the inter-bank market compared to Tuesday’s close of Rs168.52.

According to data released by the State Bank of Pakistan (SBP), the currency depreciated around 0.09% or 16 paisas against the greenback.

Earlier, speaking to, Pakistan-Kuwait Investment Company Head of Research Samiullah Tariq had said these minimal fluctuations are because of the corrective measures taken by the government and central bank.

He had also predicted that the local currency is expected to trade in the same range, however, a clear direction will be seen next month considering trade data.

Dollar against other currencies


Read more…