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KARACHI: The Pakistani rupee on Thursday extended its losses against US dollar for the fifth consecutive session against the US dollar in the interbank.
At around 11:15am, the rupee was being quoted at 225.19, a depreciation of Rs1.77 or 0.79% against the dollar, during intra-day trading.
On Wednesday, the rupee had registered a loss for the fourth successive session to close at 223.42 after declining by Rs2 or 0.9% against the greenback.
The decline in rupee value is attributed to a number of factors including a strengthening dollar in the international market. Additionally, surge in demand for the foreign currency in the local market, led by pressure from import payments, has added to rupee’s weakness.
Meanwhile, the US dollar was being traded at Rs232 to Rs234 in the open market, the Forex association added.
