The local currency settles at Rs223.66 amid political and economic instability
Karachi: The Pakistani rupee continued losing value against the US dollar on first weekly trading day on Monday, depreciating 49 paisa, or 0.22 percent in the interbank trading.
According to the State Bank of Pakistan, the local unit closed at Rs223.66 against the greenback against closing of Rs223.17 on Friday.
In the open market, the greenback gained Rs1.50 to close at Rs231.
According to analysts, demand for imports is strong which is also increasing the parity as well.
The local currency lost value because of uncertainty over the ninth review by IMF, growing risk of defaulting on its obligations to repay foreign debt despite Finance Minister Ishaq Dar’s reassurance and absence of a timeframe regarding incoming financing from Saudi Arabia and China.
Interbank closing #ExchangeRate for todayhttps://t.co/4K9Da6FI3D pic.twitter.com/ntVUTgs9CZ
— SBP (@StateBank_Pak) November 21, 2022
Why the DOJ is looking into DC crime stats
- 6 hours ago
Get ready for Silksong’s ‘special announcement’ on Thursday
- 8 hours ago
New study links COVID-19 to long-term arterial aging in women
- an hour ago
Over 7,000 stranded as floodwaters inundate south Punjab
- 2 hours ago
Multiple Karachi areas without power for over 36 hours
- an hour ago
Tarbela at 100%, Mangla at 75%: Flood Forecasting Division issues warning
- 18 minutes ago
Lion escapes zoo, injures man after entering home in Rawalpindi
- 2 hours ago
Northwestern Nigeria hit by massacre amid rising bandit violence
- 2 minutes ago
PSX hits new record as bullish trend continues
- 28 minutes ago
Pakistan extends airspace ban on India until September 23
- an hour ago
This deadly bacteria was once an “only in New York” problem. Not anymore.
- 6 hours ago
Senate Chairman inaugurates water treatment plant in Hattar
- 18 hours ago
