(MANEND NEWS): The value of the dollar increased dramatically by a margin of Rs2 against the rupee and is currently being traded at Rs297 in the open market.
The dollar was being traded at Rs287.25 during the inter-bank trade around 10:15am.
On Thursday, the rupee ended its four-session losing streak against the US dollar, to settle at 287.37, up by 0.07% against the US dollar in the inter-bank. The exchange rate recorded a Rs0.19 drop.
The Pakistani currency is experiencing a decline against the dollar, primarily driven by looming default threats and concerns over the country’s foreign exchange reserves.