The local currency remains under pressure owing to dollar shortage
Published 3 years ago on Nov 18th 2022, 1:42 am
By Web Desk
Karachi: The Pakistani rupee Thursday further depriciated against the US dollar in the interbank trade.
The shortage of the greenback in the market created problems for the importers to open letters of cre dit (LCs) that eventually pushed the local unit to lose its value.
Interbank closing #ExchangeRate for todayhttps://t.co/QnNfYxF9eX pic.twitter.com/ewyO9S9U1r
— SBP (@StateBank_Pak) November 17, 2022
The rupee lost 0.12% or Re0.26 to close at 222.67 compared to Wednesday’s close of 22.41.
In the open market, the greenback gained 50 paisa to close at Rs229.50.
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