PKR weakens against US dollar in interbank
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
Cabinet accepts Maulana's demand, approves to issue madrassa registration law
- 2 hours ago
2nd day of Centurion Test: South Africa continues batting against Pakistan
- 3 hours ago
Enemy worried of Pakistan's progress despite political agenda, toxic narrative: DG ISPR
- 4 hours ago
Money laundering case: Efforts ordered to re-arrest Moonis Elahi
- 3 hours ago
Gold prices plunge in Pakistan
- an hour ago
LHC makes new schools registration conditional to bus policy
- 4 hours ago
