The dollar’s upward moment continued for the second consecutive day this week as the foreign currency gained Rs3.42 against the rupee in the interbank foreign exchange market.

The dollar was trading at Rs294.93 at the closing of the interbank market on Wednesday against the closing of Rs291.51 the previous day.

The local unit shed Rs6.44 during the last two trading sessions. The local currency declined by Rs3.2 a day earlier.

Similarly, the rupee declined by Rs2 in the open market as the greenback was trading at Rs302/rupee.

PSX closes bearish amid negative sentiments

Meanwhile, the Pakistan bourse also closed in a negative zone as investors opted for profit-taking during the trading session while increased pressure on the rupee also dampened sentiments.

The benchmark KSE-100 Index shed 419.32 points, or 0.86%, to reach 48,146.43 levels at the closing of the trading session.

Likewise, the KSE-30 Index recorded a decline of 155.31 points, or 0.90%, to reach 17,124.98 points.