KARACHI: The Pakistani rupee weakened against the US dollar on Wednesday, depreciating by 0.09% during the trading session.
By the close of the day, the local currency settled at Rs282.47, marking a decline of Re0.26 compared to Tuesday’s closing rate of Rs282.21.
On the global front, both the US dollar and China’s yuan remained stable as trade negotiations between the United States and China concluded in London. While the talks signaled a potential easing of tensions in the ongoing trade war between the two economic giants, few concrete details were shared.
Officials from both nations reportedly agreed on a framework—based on a truce reached last month in Geneva—to address China’s export restrictions on rare earth minerals and magnets, while also easing some of the recent US export limitations.
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