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Pak rupee plunges by 97 paisa against dollar in interbank

The greenback settled at Rs222.47 in the local bullion markets

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Pak rupee plunges by 97 paisa against dollar in interbank
GNN Media: Representational Photo

Karachi: The Pakistani rupee continued to depreciate against the US dollar on Friday, losing 97 paisa in the local interbank trade.

According to the State Bank of Pakistan (SBP), the local currency closed at Rs222.47 per dollar, a depreciation of 0.44 per cent from yesterday’s close of Rs221.5.

Since the start of this fiscal year, the local currency's value has declined by Rs16.64 or 7.52pc.

The market experts say the PTI’s long march that is set to begin today has “dampened sentiments once again” due to which the rupee’s value is falling.

 

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