Rupee weakens against dollar in interbank

KARACHI: The rupee weakened by Rs2.46 against the dollar in the interbank market on Tuesday amid waning euphoria surrounding the IMF agreement.

According to data from the Exchange Companies Association of Pakistan (ECAP), the dollar was changing hands for Rs281.72 around noon. Yesterday it had closed at Rs279.26, according to the State Bank of Pakistan (SBP).

Recent inflows from the IMF, Saudi Arabia and the United Arab Emirates had changed the sentiments during last week but the dollar’s appreciation on Friday indicated the return of the greenback’s domination.