Rupee hits new low of 229 against greenback in interbank

Karachi: The local unit continued to lose value against the US dollar on Monday, hitting a new low of Rs229.88 in the interbank market.

According to the Forex Association of Pakistan (FAP), the rupee lost Rs3.63 against Friday's close of Rs228.37 to reach Rs232 around 1:30pm.

Interbank closing #ExchangeRate for todayhttps://t.co/qDQCVV0bh5 pic.twitter.com/6Q3uG2wFUy

— SBP (@StateBank_Pak) July 25, 2022

The greenback eventually closed at Rs229.99, with the local currency depreciating 0.66pc, according to data shared by the State Bank of Pakistan (SBP).