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Pakistan

PKR further falls Rs1.64 against dollar in interbank

The greenback was closed at Rs229.82 in the interbank market

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PKR further falls Rs1.64 against dollar in interbank
GNN Media: Representational Photo

Karachi: The Pakistan Rupee further lost its value against the US dollar on Monday and closed at Rs229.82 in the interbank market with deprciation of 0.71 per cent.

The greeback has gained Rs11.07 against the local currency as of September 12.

In the open market dollar gained Rs1.50 to close at Rs236. 

According to currency analysists, Pak rupee is expected to continue its downward trend against the dollar in the interbank market this week as lack of strong central bank intervention and no clear strategy to turn around the economy is depressing investors.

Massive destruction caused by the floods is also continuing to worsen the country's economic crisis.

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