Karachi: The US Dollar continued its surge against the rupee on Friday, gaining 48 paisa to reach another high of Rs175.46 in the interbank market.

According to foreign currency dealers, at the start of trading, the dollar rose by 52 paise to 176.50 paise on the interbank market.

The rupee lost 48 paisas (0.27%) to close at Rs175.46 against the greenback in the inter-bank market, according to data released by the State Bank of Pakistan (SBP).

The dollar had closed at Rs174.98 against the rupee the other day. The value of US currency was decreased by 6 paisa in interbank.

It is to be mentioned here that the dollar had earlier closed at a record high of 175.73 at the interbank on November 12.

Dubai: Another success for Pakistan, former WBC champion Muhammad Waseem defeated Colombian boxer Rober Barrera in a bout at the Boxing Arena in Dubai.

According to reports, in a 12-round fight of World Boxing Council (WBC), Muhammad Waseem clinched the silver title by defeating the Colombian boxer.

Waseem has so far won 11 bouts during his career with eight knockouts. He lost just one. During his excellent career Waseem has won the WBC flyweight world silver title two times. He also remained WBC No1 for quite some time. He won the WBC world silver title only in his fourth professional bout.

Barrera is said to be more experienced, as he competed in 26 fights and lost 3. The foreign fighter, who has a record of 13 knockouts, will try his best to obtain a triumph that will catapult him to a greater projection at world level.

Hours after Britain banned flights from South Africa and neighbouring countries and asked travellers returning from there to quarantine, the World Health Organization (WHO) cautioned against hasty travel bans.

"It's really important that there are no knee-jerk responses here," said the WHO's emergencies director Mike Ryan, praising South Africa's public health institutions for picking up the new variant of the virus that causes COVID-19.

"Because we've seen in the past, the minute that there is any mention of any kind of variation, then everyone is closing borders and restricting travel."

 The WHO said it would take weeks to determine how effective vaccines were against the variant. read more

South Africa's Health Minister Joe Phaahla called the travel restrictions "unjustified", though he also said preliminary studies suggested the new variant may be more transmissible.

European Commission chief Ursula von der Leyen said the EU also aimed to halt air travel from the region. Several other countries including India, Japan and Israel toughened curbs. read more

"It is now important that all of us in Europe act very swiftly, decisively and united," von der Leyen said. "All air travel to these countries should be suspended until we have a clearer understanding about the danger posed by this new variant."

In Washington, top U.S. infectious disease official Anthony Fauci said no decision had been made on a possible U.S. travel ban. There was no indication that the variant was in the United States, and it was unclear whether it was resistant to current vaccines, he told CNN. read more

The news nonetheless pummelled global stocks and oil, which plunged 10%, on fears that new restrictions would hit the travel industry and already shaky economies across southern Africa. read more

'MOST SIGNIFICANT VARIANT'

The variant has a spike protein that is dramatically different to the one in the original coronavirus that vaccines are based on, the UK Health Security Agency said, raising fears about how current vaccines will fare.

"As scientists have described, (this is) the most significant variant they've encountered to date," British Transport Secretary Grant Shapps told Sky News.

In Geneva the WHO - whose experts on Friday discussed the risks that the variant, called B.1.1.529, presents - warned against travel curbs for now. read more

It would take several weeks to determine the variant's transmissibility and the effectiveness of vaccines, WHO spokesperson Christian Lindmeier said, noting that 100 sequences of it had been reported so far.

British health minister Sajid Javid said the sequence of the variant was first uploaded by Hong Kong from someone travelling from South Africa.

"It is highly likely that it has now spread to other countries," Javid told lawmakers.

SOURCE: REUTERS