The local unit weakens amid delay in funding from the friendly countries
Karachi: The Pakistani rupee continued losing its value on Thursday as it declined against the dollar for the 10th consecutive session.
According to the data released by the State Bank of Pakistan (SBP), in the interbank market, the rupee depreciated by Rs1.56 to Rs235.88, down in value from the previous close of Rs234.32 against the dollar
A delay in funding from friendly countries, apart from the loans expected from multilateral and bilateral institutions, is the major factor behind the depreciation.
Interbank closing #ExchangeRate for todayhttps://t.co/jGMzuWe0AB pic.twitter.com/cfR8OCXbAx
— SBP (@StateBank_Pak) September 15, 2022
The International Monetary Fund (IMF) provided the much-needed $1.17 billion bailout package to Pakistan after assurances from friendly countries such as Saudi Arabia and the United Arab Emirates.
However, the pressure on the local unit is persisting as the friendly countries and financial institutions are yet to provide the much-awaited financial help.
Nintendo’s Switch 2 is here — sort of
- 5 hours ago
When kids lose their schools to fire
- 3 hours ago
Daniels, Commanders continue late-game magic in win over Bucs
- 4 hours ago
Want to help fire victims? The best way to support Los Angeles in the short and long term.
- 3 hours ago
The public’s fixation on celebrity wildfire victims has an unexpected benefit
- 3 hours ago
Lakers, Clips expected to resume home slate Mon.
- 4 hours ago
Vegas man arrested over Porter betting scheme
- 4 hours ago
23-year-old Indian actor dies in road accident
- 27 minutes ago
The first electric minivan will change the way you think about EVs
- 3 hours ago
Various cities including Punjab engulfed in dense fog
- 30 minutes ago
There’s a very popular explanation for Trump’s win. It’s wrong.
- 3 hours ago
Neil Gaiman and the problem of faux feminists
- 3 hours ago
