This week, the Pakistani rupee also weakened against the Indian and Afghan currencies.

KARACHI: In the business days of this week, the Pakistani rupee weakened against the dollar, Indian Bangladeshi, a and Afghan currencies.

According to Asian Trade TV, despite the increase in foreign exchange reserves due to the drop in global crude oil prices and the instalment of loans received from the IMF, the Pakistani rupee remained unstable against other currencies, including the dollar.

The weekly currency report said that a rise in global bond yields had a negative impact on the rupee’s value, while rising imports of consumer staples kept dollar supply tight. On the other hand, the aggressive increase in the interest rate in the United States also led to the flight of the dollar. According to the report, during the business days of last week, the Pakistani rupee weakened even more against the currencies of India, Bangladesh, and Afghanistan. Apart from this, the value of the rial increased by Rs. 2.50 to Rs. 62 in the open market, while the value of the rial increased by Rs. 2.46 to Rs. 60.72 in the interbank market.

The value of the Euro rose by Rs 12 to Rs 234 in the open market, while the value of the Euro rose by Rs 11.60 to Rs 230.41 in the interbank market. The British pound rose by Rs 11.50 to Rs 274.50 in the open market. The interbank rate increased by Rs 12.02 to Rs 265.25. Apart from this, the value of the dollar increased by 9.50 rupees to 234.50 rupees in the open market, while the value of the dollar increased by 9.21 rupees to 228.18 rupees in the interbank market.