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Pak rupee depreciates to Rs130.75 in open market

Pak rupee depreciates to Rs130.75 in open market

KARACHI: The US dollar touched a record high of Rs130.75 in the open market on Friday, gaining a further Rs0.25 as it continued its climb against the Pakistani rupee.

As per the local money market, the dollar gained 25 paisas in open market for buying at Rs129.75 and for selling at Rs130.75, while the dollar also added 10 paisas in interbank for buying at Rs128.40 and for selling at Rs128.60.

On Thursday, the dollar gained 50 paisas for buying at Rs129.50 and for selling at Rs130.50 in open market. In interbank, the greenback added 30 paisas for buying at Rs128.30 and for selling at Rs128.50.

Since December, the rupee has cumulatively shed over 21% of its value after the State Bank of Pakistan reportedly abstained from intervening in response to the pressure exerted by a widening current account deficit.