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Pakistan

Dollar appreciates 0.22pc against PKR in interbank

The local unit closed at Rs223.17

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Dollar appreciates 0.22pc against PKR in interbank
GNN Media: Representational Photo

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.

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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