KARACHI: Rupee weakened by 1.5 percent to hit a new record low of 151.92 in the interbank market on strong dollar demand on Tuesday, ignoring hefty increase in the interest rate a day earlier as analysts bet on the central bank’s much-needed intervention to tame the pressure on the local currency.
The rupee weakened from 149.65 in the previous session. The rupee also plunged in the open trade, tracking a weaker currency in the official market. The local currency slid by Rs3 to close at 154 against the dollar in the open market, further fading from the previous close of 151.
Meanwhile, 24 carat gold rate surged to Rs72,100 per tola on Tuesday.
According to the schedule, candidates filed their nomination papers from March 16 to 18
Earlier, Pervez Elahi was admitted to Rawalpindi Institute of Cardiology due to chest pains
Ahsan Iqbal shared that the digital revolution currently under process in the global arena will completely...
These American projects have dramatically increased the nation’s electricity capacity
The 1,530 MW 5th Extension Hydropower Project T-5 is being funded by the World Bank to the tune of US$390 million
The sources said that committees of the two houses would also be formed in the month of April