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Rupee downs 10 paisa in interbank against US dollar

Rupee downs 10 paisa in interbank against US dollar

KARACHI: Pakistani rupee further depreciated in interbank and open market against US dollar on opening day of the trading week.

According to local currency market, US dollar gained 10 paisa in interbank to reach 102.7 and 5 paisa in open market to reach 102.9. On the last day of previous trading week, US dollar gained 5 paisa in open market to reach 102.85 and remained stable with 102.6 in interbank.

Forex dealers said that fresh demand of US dollar and political impasse were causing rupee devaluation. On Sunday, Pakistan Tehreek-e-Insaaf Chairman Imran Khan addressed a huge anti-government gathering in Karachi – the economic hub of Pakistan, which further pressurised the federal government and increased economic instability.