Pakistani rupee weakened further against the US dollar in both the interbank and open markets following the announcement of the federal budget, which triggered increased demand for the greenback due to anticipated import pressures.
According to the State Bank of Pakistan, the dollar rose by 20 paisas in the interbank market, closing at Rs 282.67.
Meanwhile, the Exchange Companies Association of Pakistan (ECAP) reported an 18 paisa increase in the open market, where the dollar reached Rs 284.82.
This follows a 26 paisa increase just a day earlier in the interbank rate, when the dollar closed at Rs 282.47.
Currency analysts attribute the rise to post-budget uncertainty and expectations of higher imports, putting additional pressure on the local currency.
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