Pakistan
Rupee hits new low of 229 against greenback in interbank
The local unit remained under pressure owing to ongoing political uncertainty involving run-off Punjab CM election
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).
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