The local unit closed at Rs223.17
Published 2 years ago on Nov 19th 2022, 12:50 am
By Web Desk
Karachi: The Pakistani rupee continued losing its streak against the US dollar on Friday, depreciating Rs0.50 paisa, or 0.22 per cent in value.
According to the State Bank of Pakistan, the local unit closed the week at 223.17 against the US dollar in the interbank market after losing 0.22% compared to Thursday’s closing value of 222.67.
Interbank closing #ExchangeRate for todayhttps://t.co/3xXXHBazKH pic.twitter.com/BdIqrUIhDe
— SBP (@StateBank_Pak) November 18, 2022
According to the currency experts, high default risks and low foreign exchange reserves sapped the sentiment.
A delay in the ninth review of the IMF loan programme remained a cause of concern for investors.
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