Rupee further declines against USD

KARACHI: The Pakistani rupee sustained losses for the third consecutive session as local unit depreciated 0.04% against the US dollar in the inter-bank market on Thursday.

At close, the local unit settled at 278.50, a loss of Re0.10 against the greenback, as per the State Bank of Pakistan (SBP).

On Wednesday, the rupee had closed at 278.40, down by Re0.10.

Gold prices fell in Pakistan on Thursday in line with a decrease in the international rate. In the local market, gold price per tola reached Rs241,200 after it shed Rs1,500.

The 10-gram gold was sold at Rs206,790 after it decreased Rs1,286, according to rates shared by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).