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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

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Rupee hits new low of 229 against greenback in interbank
GNN Media: Representational Photo

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.

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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