Rupee weakens

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KARACHI: The foreign exchange market witnessed volatility on Tuesday because of political crisis in the country, said dealers.

The rupee ended slightly weaker to the dollar in the interbank foreign exchange market. However, the local currency came under pressure against the greenback during the trading session.

In the interbank market, the rupee was traded higher at 97.75 in the first trading session; however, it closed at 97.44 against the dollar from 97.37 on Monday. The rupee fell to 99 in the open market, said dealers.

The repercussions of the fast-changing political crisis will appear on the local currency in the coming session, said dealers.

Courtesy: The News

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