KARACHI – The Pakistani rupee continued its losing streak on second consecutive day against the US dollar in the interbank and open markets as clouds of uncertainty hangover the revival of the IMF deal.
The local currency depreciated by 0.24% against the greenback in the interbank market, settling at Rs282.29 as compared to Friday’s Rs281.61 when it witnessed a decline of 0.30%.
Reports said the Pakistan was not included in the IMF’s agenda till March 31, a development that has also sparked negative sentiments among the investors.
Meanwhile, the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) data shows the price of gold (24 carats) increased by Rs2,300 per tola and Rs1,972 per 10 grams to reach Rs201,500 and Rs172,754, respectively.
