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
FIA cracks down on illegal migration: 13 caught en route to Iran
- 7 hours ago
Luxembourg announces intention to recognize Palestinian state
- 3 hours ago
.jpg&w=3840&q=75)
Twelve killed in Malaysia landslides after week-long downpour
- an hour ago
Asia Cup T20: Bangladesh defeat Afghanistan by 8 runs
- an hour ago
First ODI: Sidra Ameen’s ton helps Pakistan women set South Africa 256-run target
- 3 hours ago

At least 50 killed after refugee boat catches fire off Libyan coast
- 4 hours ago
India says trade talks with US were ‘positive’
- 3 hours ago
OGRA hikes kerosene oil price
- 5 hours ago
Kazakhstan bans forced marriages and bride kidnapping
- 6 hours ago
Cinema legend Robert Redford dies at 89
- 5 hours ago
Wego expands presence in Pakistan, bring more travel choices to local travelers
- 4 hours ago

Lahore police arrest man for sexually assaulting stepdaughter
- 8 hours ago