A higher demand for dollars, particularly by travellers flying to the UAE weakened the local currency
Published 3 years ago on Aug 26th 2022, 3:39 am
By Web Desk
Karachi: The local currency continued to depriciate against the US dollar on Thursday as PKR dropped Rs1.03 against the greenback.
Analysts attributed the fall to a higher demand for dollars, particularly by travellers flying to the United Arab Emirates.
According to the State Bank of Pakistan (SBP), the local currency closed at Rs219.41 per dollar in the interbank market — a depreciation of Rs1.03 or 0.47 per cent.
Interbank closing #ExchangeRate for todayhttps://t.co/S1qOID9cww pic.twitter.com/w7h9GE1SlC
— SBP (@StateBank_Pak) August 25, 2022
In the open market, the rupee was being traded at Rs228 per dollar around 4:40pm, data shared by the Forex Association of Pakistan showed.
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