Monday January 30, 2023

Rupee weakens

By Our Correspondent
January 25, 2023

KARACHI: The rupee continued a downtrend against the dollar on Tuesday amid fast-depleting foreign reserves and lack of foreign inflows into the country.

In the interbank market, the local unit fell 0.11 percent to 230.40 against the dollar, against 230.15 recorded in the previous trading day.

The domestic currency traded at 240.75 against the dollar in the open market.

When compared to the official interbank rate, the black market premium for the Pakistani rupee has risen steadily, from 10 percent a few weeks ago to 15 percent at the moment.