KARACHI: Pakistan Stock Exchange above the 98,000 mark on Friday as share prices surged more than 2,000 points in intraday trade
Rupee further lost to Dollar
ISLAMABAD: The rupee continued to lose its value on Tuesday and fell to a new low of 231 against the dollar in the interbank market.
The local currency, which had closed at Rs229.88 yesterday, fell Rs1.12 to Rs231 by 10:36am, according to the Foreign Exchange Association of Pakistan.
Between April 7 (when the then-prime minister Imran Khan was ousted from power) and July 22, the rupee lost 21.3 per cent value against the US dollar both due to the yawning trade deficit and the growing political instability and uncertainty.
The rupee had appreciated to Rs204.56 in the first week of July after touching 211.93 on June 22. It then kept losing its value against the dollar but registered a minor appreciation when the country reached its staff-level agreement with the IMF on July 15.
It has continued to fall in every session since then.
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