KARACHI: Rupee weakened 1.5 percent to hit a new record low of 151.92 in the interbank market on strong dollar demand on Tuesday, ignoring hefty increase in interest rate a day earlier as analysts bet on the central bank’s much-needed intervention to tame the pressure on the local currency. The rupee weakened from 149.65 in the previous session. The rupee also plunged in the open trade, tracking a weaker currency in the official market. The local currency slid by Rs3 to close at 154 against the dollar in the open market, further fading from the previous close of 151. Meanwhile, 24 carat gold rate surged to Rs72,100 per tola on Tuesday.
Specially trained squads are being formed for prompt action in case of any kind of terrorist activity, says IGP
Gandapur says that unnecessary delays in development projects result in a waste of taxpayers’ money
Net proposed refund stands at Rs51.49bn, down from initial Rs53.26bn due to Iesco's claim
To manage difference between new and old tariffs, Nepra will implement cross-subsidy mechanism
Sherry says this decision flies in face of cooperative federalism and threatens livelihood of millions in Sindh
Engr Khan, who represents province of KP, was first appointed to Nepra on April 21, 2021, for a four-year term
