The local unit keeps losing spree against the greenback for continuous 15th session


Karachi: The US dollar further strengthened against the Pakistan Rupee on Thursday, reaching near to historic high in value.
The greenback gained 0.03 per cent against the local unit and closed at Rs239.71 in the interbank market.
In July 28, 2022, the local unit touched the mark of Rs239.95 against the dollar. The rupee has has lost 9 per cent value against the dollar in the ongoing month.
Interbank closing #ExchangeRate for todayhttps://t.co/r3uiHkJXkb pic.twitter.com/yscMbxiFEx
— SBP (@StateBank_Pak) September 22, 2022
Political and economic instability, shortage of dollars in the markets, oil payments by the central bank and heavy debt servicing have been remained the contributing factors in the weakening of the local unit.
Investors are showing worries that why the dollar is gaining its value when Pakistan has already received $1.1 billion from the International Monetray Fund (IMF) and Chinese consortium of banks have also delayed the return of $3 billion parked in the central bank.
According to a market analyst, dollar strength and high commodity prices are impacting regional and major currencies especially of Pakistan.
On the other hand, the greenback was traded at Rs244.90 in the open market with 50 paisa depriciation.

World Athletics Championships: Arshad Nadeem out of medal race
- 30 minutes ago

Taliban administration bans internet in Afghanistan
- 4 hours ago

Gold prices remain stable, silver continues upward trend
- 7 minutes ago

Four kids die after consuming poisoned food in Gujranwala
- 2 hours ago

IBO in Khuzdar, four terrorists of Fitna-tul-Hindustan killed
- 3 hours ago

Old pension system restored for new hires in Sindh
- 25 minutes ago

No justice for my wife and me: PTI founder writes to CJP
- an hour ago

Prominent Kashmiri freedom fighter Abdul Ghani Bhatt passes away at 89
- 3 hours ago

Chairman PTA reinstated
- 2 hours ago

PM Shehbaz Sharif leaves for London after completing Saudi visit
- 4 hours ago
Pakistan’s BRICS membership likely by 2026: diplomatic sources
- 3 hours ago

Meta launches its first AI smart glasses equipped with display
- an hour ago