KARACHI: The US dollar rate in Pakistan weakened by Re0.17 (17 paisa) against Pakistani rupee to Rs278.33 in the interbank market on Friday (May 31).as per the State Bank of Pakistan (SBP)..
On Thursday, the rupee had closed at 278.50, down by Re0.10.
In recent weeks, the local currency has largely been around 277-278 against the dollar as Pakistan moves forward with its plan to grab a longer and larger International Monetary Fund (IMF) bailout programme.
Globally, the US dollar was licking wounds against peer currencies on Friday after a downward revision to US GDP for the first quarter suggested room for rate cuts this year, while investors braced for inflation data.
