KARACHI: The rupee continues to lose ground against the US dollar which was trading at Rs96 in the open market on Monday. During the current fiscal year the dollar has increased by 10 rupees.
According to currency dealers, the rising rate of the dollar has increased its demand. The inter-bank buying rate of the dollar is Rs94.20 while the selling rate is Rs94.34
Experts say the devaluation of the rupee is increasing the prices of imported items and the amount owed on foreign loans has increased.