Rupee sinks to another low at 186.13 against dollar

KARACHI: Treasury bills yields rose on Wednesday as ongoing political uncertainty in the country boosted demand for safe-haven assets, analysts said.

Investors are now looking to see what impact the political standoff between the PTI and opposition parties has on the central bank’s future policy decision. The local currency closed at Rs186.13 to the dollar, 0.48 percent weaker from Tuesday’s close of Rs185.23.

The yield on the six-month paper stood at 13.25 percent, up 75bps from the

previous auction held on March 22. The yield on 12-month paper increased 60bps to 13.30 percent.