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.
Govt unveils app to cut electricity theft, ensure fair billing
- 11 hours ago
‘Sardar Ji 3’ breaks records with historic Rs45m opening in Pakistan
- 9 hours ago
20 children die at Pakpattan DHQ: Investigation complete, report due July 2
- 6 hours ago
Security forces eliminate two Indian-sponsored terrorists in Balochistan
- 10 hours ago
Karachi sea claims another life despite safety warnings
- 6 hours ago
President Zardari finalizes IHC judges’ seniority list
- 9 hours ago
Strong quake rocks Balochistan's Musakhel district
- 11 hours ago
Gas prices to rise from July 1, OGRA issues notification
- 10 hours ago
WhatsApp introduces built-in document scanner for Android users
- 10 hours ago
Russia launches largest air assault on Ukraine; F-16 jet destroyed
- 10 hours ago
NDMA issues flood alert as heavy rains expected across Pakistan
- 11 hours ago
PM Shehbaz invites Chaudhry Nisar to rejoin PML-N
- 9 hours ago
