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.
Jaffar Express resumes operations after terrorist attack
- 10 hours ago
Nagpur riots: Hindu extremist group demands destruction of Aurangzeb's tomb
- 9 hours ago
Mustafa Amir murder case: Father and son clash in court during case hearing
- 8 hours ago
Virtual learning introduced at Balochistan universities amid growing security risks
- 4 hours ago
Ruet-e-Hilal Committee to meet on March 30 for Shawwal moon sighting
- 6 hours ago
Dollar surges as forex markets struggle amid IMF delays, economic pressures
- 7 hours ago
Army Chief stresses need for national unity in fight against terrorism
- 4 hours ago
JI chief offers help for Afghanistan talks, slams govt’s approach to national security
- 10 hours ago
Gold prices hit historic highs amid global economic concerns
- 9 hours ago
Somali militants attack presidential convoy, president escapes unhurt
- 4 hours ago
Sindh announces holiday for educational institutions on March 22
- 6 hours ago
Pakistan vows full force against terrorism in recent security meeting
- 7 hours ago
