KARACHI: The Pakistani rupee weakened against the US dollar over the past week, slipping by Re0.31 or 0.11% in the inter-bank market.

According to the State Bank of Pakistan (SBP), the local currency closed at 281.97 against the greenback, compared to 281.66 at the end of the previous week. Analysts attributed the depreciation to rising import demand, which has increased pressure on the rupee.

Meanwhile, Pakistan recorded a GDP growth rate of 2.4% in the third quarter (January–March) of fiscal year 2024-25, as per provisional estimates released by the Pakistan Bureau of Statistics (PBS) last week. Despite this overall growth, the industrial sector experienced a contraction of 1.14% during the period, according to a press release issued following the 113th meeting of the National Accounts Committee (NAC).

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