KARACHI: The rising demand due to higher debt servicing and repatriation of profits by foreign investors built pressure on the local currency, which saw the US dollar breaching the Rs280 and Rs281 thresholds in the interbank and open markets.

On Friday, the greenback traded at Rs280.35 and Rs281.86 in the interbank and open markets, gaining 25 and 24 paise, respectively.

Currency experts identified several factors behind the rupee’s weakening, but they observed that it was a controlled depreciation. The exchange rate has been stable for more than a year, hovering around Rs278 with slight fluctuations, and produced highly positive results as it eliminated panic from the currency markets.

“The Pakistani rupee needs to be competitive with the regional........

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