The local currency has weakened by four per cent against the dollar since the start of the declining trend in mid-October.


Karachi: The US dollar continued its winning streak against the Pakistani rupee (PKR) in the interbank on Tuesday.
According to the State Bank of Pakistan (SBP) report, the US dollar gained 32 paise over the previous session's closing price of Rs287.55 to conclude at Rs287.87.
The local currency has weakened by four per cent against the dollar since the start of the declining trend in mid-October.
The price of US dollars rose by Rs. 3.00 on the open market during the week that concluded yesterday, closing at Rs. 288 from 285 rupees.
Other foreign currencies experienced an upward movement while the Pakistani rupee declined. Over the course of the week, the euro gained five rupees, reaching Rs 302 by the weekend.
The Euro gained five rupees and was trading at 307 rupees, while the Pound gained 10 rupees in a week to reach 356.50 rupees in the open market.
The price of the Saudi riyal jumped by Rs 1.20, closing at Rs 76.70 from Rs 75.50, while the rate of the Emirates dirham rose by 30 paisa, ending at Rs 80.50.

Sources: Mets trade for reliever in O's lefty Soto
- 10 hours ago

Six killed in stampede at India’s Haridwar temple
- 4 hours ago

Light drizzle expected in Karachi and coastal areas over the next three days
- 3 hours ago

Three new polio cases reported in Pakistan, total rises to 17
- 3 hours ago
American Airlines plane catches fire on runway, evacuation ensues
- 3 hours ago

Deadly bus crash on M2 Motorway leaves eight dead, several injured
- 3 hours ago

Islamabad raid uncovers 45 donkeys and 1,000 kg of meat
- an hour ago
Thailand opens door to dialogue following Cambodia conflict
- an hour ago

18,000 rally in Kuala Lumpur against PM Anwar Ibrahim
- 2 hours ago

The dire state of Gaza negotiations, briefly explained
- 9 hours ago

Three robbers killed in firing by Crime Control Department in Sahiwal
- 4 hours ago

Nine killed in courthouse shooting in Iran
- 42 minutes ago