US dollar jumps 26 paisa to hit Rs156.50 at the early trade hours
KARACHI :The Pakistani rupee continued to depreciate against the US dollar in the interbank market on Tuesday and hit Rs156.50 after losing 26 paisa at the early trade hours.
Yesterday, the local currency lost its strength by 5 paisa against the greenback and closed at Rs156.24 in the interbank market. In the open market, the dollar remained unchanged and closed at Rs156.40.
Economists expressed fears that the rising oil prices in the international market after attacks on Saudi Arabia’s state-owned Aramco oil facilities would adversely affect the rate of US dollar. They termed the development as “bad omen for Pakistan’s economy.”
On Friday, the local currency had recovered by 40 paisa against the greenback and closed at Rs156.30 in the open market.