The major factor behind weakening of the local currency were the shortage of greenback in the local markets and rising import bill
Karachi: The local unit continued losing its value against the US dollar on Friday to close at Rs228.18 in the interbank market - a depreciation of 1.21 per cent.
Analysists are of the view that the shortage of the greenback in the local markerts impacted Pak Rupee's value.
Interbank closing #ExchangeRate for todayhttps://t.co/XPxvJI8TpO pic.twitter.com/gVkb2yt1ZN
— SBP (@StateBank_Pak) September 9, 2022
Economic uncertainty, political instability, floods' devastation and rising inflation are the contributing factors.
On Thursday, the rupee had lost Rs2 in the interbank market on Thursday, closing at Rs225.42 per dollar -- a depreciation of 0.89 per cent.
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