KARACHI
The US dollar continued to lose ground against the Pakistani rupee Wednesday despite deadly floods causing huge economic losses to the country. The rupee closed at 218.75 per dollar after gaining 1.37 during the interbank market, down from yesterday’s close of 220.12, according to the State Bank of Pakistan’s (SBP) data.
Early estimates put the damage from the floods at more than $10 billion, government officials have said, adding that the world had an obligation to help the South Asian country cope with the effects of man-made climate change.
