KARACHI: On Thursday, the US dollar slightly gained value against the local currency during the initial half of the day at the interbank market. The dollar gained Rs0.24 and traded at Rs185.69. Meanwhile, the dollar stood at Rs186.74 in the open market.
Earlier on Wednesday, rupee traded at Rs185.45 after gaining Rs0.17 in value and closed at Rs186.50 in the open market. The decline in the rupee’s value has been subjected to cut off in subsidies by the new coalition government to fulfill the requirements of the International Monetary Funds.
Previously, the KSE-100 index had also lost over 250 points due to the same reason.