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PKR continues to weaken against US dollar

The local unit closed at Rs238.91 with depreciation of 0.42 per cent

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PKR continues to weaken against US dollar
GNN Media: Representational Photo

Karachi: The US dollatr kept hitting Pakistan Rupee hard on Tuesday, further strengthening Rs1 against the local unit in the interbank matket. 

This equates to a depreciation of 0.42 per cent from yesterday’s close of Rs237.91, bringing the local unit near the all-time low of Rs239.94 on July 28. 

In open market, the greenback was traded at Rs245.40. According to market experts, the rupee’s decline was seen on speculation by banks which claimed that they had "earned a year's profits merely in two months”. 

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