According to analysists, pending oil payments and demand for the greenback by commercial importers weakened the local currency
Karachi: The Pakistan rupee continued to lose its value for the fifth consecutive day on Friday, plunging by Rs1.25 against the US dollar in the interbank market.
The local unit closed at Rs220.66 per dollar, having depreciated 0.57 per cent.
Interbank closing #ExchangeRate for todayhttps://t.co/5VPjQDvFv6 pic.twitter.com/F9FZU5C2xQ
— SBP (@StateBank_Pak) August 26, 2022
Collectively, PKR lost 6.01 against the greenback during the week ended August 26 as it depreciated in all five trading sessions.
Analysts and experts beleive that the rupee will continue to slide till the International Monetary Fund (IMF) disburses Pakistan's $1.17 billion tranche in its executive board meeting on August 29.
WHO chief visits epicentre of Ebola outbreak in DR Congo
- 5 گھنٹے قبل
Pope Leo calls for being ‘profoundly human’ in the age of AI
- 13 گھنٹے قبل
SpaceX gets $4 billion contract to build missile-tracking ‘Golden Dome’ satellites
- ایک دن قبل
Why Trump is investigating E. Jean Carroll
- 11 گھنٹے قبل
Robinhood will let your AI agent trade stocks and make (or lose) lots of money
- ایک دن قبل
Sony’s DualSense controllers are almost 30 percent off
- ایک دن قبل
Minhas helps Pakistan dismiss Australia for 200 in first ODI
- 5 گھنٹے قبل
US ready to restart strikes on Iran if no deal, says Pentagon chief
- 9 گھنٹے قبل
The real lesson of the E. Jean Carroll investigation is Trump’s weakness
- 20 گھنٹے قبل
Pakistan’s children on the front line of a climate crisis rewriting childhood
- 10 گھنٹے قبل
Meta plans AI pendant, 'wearables for work' in hardware boost: report
- 5 گھنٹے قبل
Pakistan's Youth Leader Fahad Shahbaz makes Forbes 30 under 30 Asia
- 10 گھنٹے قبل
