KARACHI: No respite for falling Pakistani currency as the rupee continued to decline against the US dollar in interbank market amid ongoing political uncertainty, ARY News reported on Thursday.
According to forex dealers, the US dollar continued gaining against the rupee and peaked to its historic high level of Rs183.45 on Thursday in early trading.
The rupee depreciated by 81 paisas against the dollar in interbank market.
The domestic currency also lost ground in the open market and trading at over 184 against the greenback.
On Wednesday, the domestic unit closed at Rs182.64 in the interbank market against Rs182.34 of Tuesday.
Interbank closing #ExchangeRate for todayhttps://t.co/W1zJGCPpJR pic.twitter.com/AaZ4GQFLYi
— SBP (@StateBank_Pak) March 30, 2022
Experts say political chaos in the country and uncertainty surrounding the seventh review of the $6 billion International Monetary Fund (IMF) loan programme are keeping the rupee under pressure.
It is pertinent to mention here that the local unit has been under pressure since start of the current financial year as the dollar has appreciated by Rs25.10 since 1st July 2021.
from Business News updates - Latest news stories on Economy from Pakistan https://ift.tt/5Zr42Ie
via IFTTT