The rupee ended lower for the third straight session in the interbank currency market on Wednesday, dealers said. The rupee closed at 128.48 against the dollar as compared to Tuesday’s closing of 128.26. The local unit moved in the range of 128.40/50 during the session.
“The currency is weakening gradually on a daily basis due to increased dollar demand. Depleting foreign exchange reserves also exert pressure on the exchange rate,” a currency dealer said.
“The outlook for the rupee remains uncertain, but we expect it will suffer minor losses this week.”
In the open market, the rupee closed at 128.50/129 against the dollar as compared to the previous level of 128/128.70.
The headquarters of the Sui Southern Gas Company . — APP FileKARACHI: Sui Southern Gas Company has launched a fresh...
The logo of the ExpoMed Eurasia. — CA MI websiteKARACHI: Pakistan is participating in ExpoMed Eurasia, a leading...
Gold bars are seen in this undated file photo. — AFP/FileKARACHI: Gold prices increased by Rs500 per tola on...
FFBL Head Office building can be seen in Islamabad. — FFBL WebsiteKARACHI: Fauji Fertilizer Bin Qasim Limited has...
Representational file of an MBW car. — AFP FileLAHORE: Small improvements in economic credentials of the country are...
The logo of the Oil and Gas Regulatory Authority . — Ogra websiteKARACHI: After Pakistan’s oil refineries,...
