KARACHI: The value of the US dollar against the Pakistan rupee rose by another Rs2.19 to Rs229 in the interbank market on Friday shortly before the Punjab Assembly was set to hold the runoff election to pick Punjab chief minister.
In the open bank market, the US dollar was trading at Rs231.
The rupee has been in a downward spiral since the July 17 byelections in Punjab. With the PTI, which bagged 15 of 20 seats, poised to form government in the province, the authority of the federal government has been jeopardized.
There are fears that political uncertainty in the country may affect foreign investment and inflows from friendly countries.
