Pak rupee plunges by 97 paisa against dollar in interbank

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.

Interbank closing #ExchangeRate for todayhttps://t.co/BhFb9GE70Q pic.twitter.com/3ZTwWb6ruI

— SBP (@StateBank_Pak) October 28, 2022

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.