KARACHI: The local currency continued to lose value against the US dollar for the eighth consecutive session. On Tuesday, the rupee lost Rs1.18 in the interbank market. The Forex Association of Pakistan (FAP) reported that the US dollar traded at Rs231 during the intraday trading.
In the open market, the foreign currency fluctuated between Rs236 and Rs238. During the past seven sessions, the rupee has lost 5.13 per cent or Rs11.22 in value. On August 1, 2022, the dollar traded at Rs218.6.
Meanwhile, gold prices have also surged in the domestic market by Rs3000 per tola. The All Pakistan Jewellers Manufacturers Association reported that the per tola rate had touched Rs156,000 after a hike of Rs3000. The price of 10 grams has jumped to Rs113,745.