PKR weakens 0.46 paisa against dollar in interbank

Karachi: The Pakistani rupee continued to lose in value against the US dollar for the fourth consecutive session on Monday.

According to the State Bank of Pakistan (SBP), the local currency closed at Rs218.89 after depreciating Rs0.46 or 0.21% against the greenback compared to Friday’s close of 218.43.

Interbank closing #ExchangeRate for todayhttps://t.co/F0H8TxTY27 pic.twitter.com/j9KWtyy9GM

— SBP (@StateBank_Pak) October 17, 2022

Accoridng to analysts, the local unit will remain range bound in the ongoing week, depending on the demand for greenback by importers as the central bank has started to clear pending letters of credit.

On the other hand hand, the dollar lost 30 paisa to close at Rs225.70 in the open market.