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.
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