Pakistan rupee further weakens against dollar, crosses 192-mark

Karachi: The Pakistani rupee was further plunged against the greenback on Friday as the local currency fell by nearly Re1 against the US dollar in the interbank market.

Uncertainty over the resumption of the International Monetary Fund's (IMF) loan programme, shrinking foreign exchange reserves and widening trade deficit were major factors behind the continuous decline.

The rupee was trading at Rs193 during the intraday, however, at close the current settled at Rs192.53 with a loss of Rs0.76 or 0.4%.

-- Imran Khan notices Pak rupee's weakening --

Former Prime Minister and PTI Chairman Imran Khan also took to Twitter to discuss the deterioration in the local currency.

Rupee at all time low Rs193/$ (from Rs178/ on 8March); Interest rates at 15% highest since 1998; stock market down 3,000 pts or 6.4%; stock market lost Rs604 billion capitalisation; Inflation 13.4% highest since Jan 2020. Reflects lowest ever confidence in Imported government.

— Imran Khan (@ImranKhanPTI) May 13, 2022

"Rupee at all time low Rs193/$ (from Rs178/ on 8 March); Interest rates at 15% highest since 1998; stock market down 3,000 pts or 6.4%; stock market lost Rs604 billion capitalisation; Inflation 13.4% highest since Jan 2020. Reflects lowest ever confidence in Imported government," Imran Khan said in the tweet.