KARACHI: On Friday, the Pakistani rupee continued losing value against the US dollar. By 10:56 AM, the US dollar gained Rs3.05 or 1.35 per cent in value in the interbank market. According to the data of the Forex Association of Pakistan (FAP), the greenback traded at Rs228.5.
Saad bin Naseer, Director of Mettis Global, said that due to a gap between the payments and demand and supply, the rupee remained under pressure.
Komal Mansoor, Head of Research in Tresmark, said that polls indicated that 35 per cent of analysts say that the value of the dollar would stay between Rs226 and Rs235 by the end of September. Between September 2-8, the local currency lost Rs6.82. In the last two days, the dollar gained Rs4. The report from Mettis Global indicated that in the past 52 weeks, the rupee lost 25.62pc in value.
