Rupee weakens by 40 paisas against dollar

The rupee continued to lose its ground against the US dollar as it depreciated by 40 paisas on Tuesday.

The home unit had closed at Rs167.23 per dollar on Monday while on Tuesday the inter-bank market closing rate was Rs167.63.

Pakistani currency depreciated by approximately 0.24 per cent on Tuesday.

Forex Association of Pakistan President Malik Bostan commented that the dollar upsurge against the rupee is linked to the inflow of dollars into Afghanistan following the Taliban takeover.

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