Pakistani rupee trades at low against US dollar

After a minor drop of 13 paisas against the Pakistani Rupee in the interbank market, the American currency started trading at Rs279.30. However, moments later, it jumped back up with a rise of 57 paisas and traded at Rs280.

At the start of the trading session on Tuesday morning, the American currency stood at Rs279.50 after losing 38 paisas in the interbank market, as per currency dealers in Karachi.

The US dollar closed the trading session of Tuesday at Rs279.43 with a rise of 31 paisas. In the open market, the dollar got a boost of 50 paisas and started trading at Rs281.50.

Over the past week, the interbank rate for the dollar had seen a significant overall increase of more than Rs1.19 and closed at Rs278.80 at the end of the week.

The value of the American dollar remained relatively stable in comparison to the Pakistani currency, after a continuous decline of five weeks.