KARACHI: The Pakistani rupee (PKR) continued its downward trend against the United States Dollar (USD) in the interbank market on Tuesday, ARY News reported on Wednesday quoting SBP.
According to the central bank, the local unit lost Rs 0.48 against the greenback to close at Rs287.91 in the interbank.
In the open market, the US dollar is being sold at Rs294.75, said forex dealers.
Globally, the U.S. dollar strengthened after another disappointing set of Chinese trade figures hurt the yuan, the Aussie and kiwi, while European risk-sensitive currencies also slid on a deteriorating demand outlook.
The dollar index rose 0.5% to 102.59, lifting further away from Friday’s one-week low in the wake of a mixed U.S. jobs report which pointed to a cooling but still resilient labour market, according to Reuters.
In Europe, sterling fell 0.5% to $1.2720, after a survey showed British retailers in July logged their slowest sales growth in 11 months.
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