Rupee loses ground against dollar

KARACHI: The Pakistani rupee depreciated against the US dollar in the interbank market on Wednesday after witnessing a slight recovery in the past two sessions.

According to the State Bank of Pakistan (SBP), the rupee weakened by Rs 1.26 against the dollar in the interbank trading to close at Rs 279.12 against the previous day’s closing of Rs 277.86.

According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollars in the open market were recorded at Rs 278.2 and Rs 281, respectively.