KARACHI: The local currency continued to decline in value as the greenback reached above the Rs195 point during the interbank trade. The decline in imports and the poor situation of foreign exchange reserves have contributed in diminishing the value of the local currency.
During the early trade hours, the dollar gained 90 paise and reached Rs195.50 in the interbank market. Yesterday, the dollar stood at Rs194.60.
The surge in the foreign currency started on Tuesday when it hit Rs188.66. From there onwards, the value increased to Rs190.90 (Wednesday), Rs192 (Thursday), Rs193.10 (Friday) and Rs194 (Monday).