USD to PKR: Pakistani rupee suffers more losses against dollar in interbank market


KARACHI – Pakistani rupee continued to remain under pressure against the US dollar in the open market and interbank, amid soaring demand for greenback.

In the early hours of trading on Monday, the local currency moved down by 0.47. The rupee was hovering at 287.50, with another decline on the first working day of the week.

Last week, the local currency faced back-to-back losses as it depreciated 0.95% or Rs2.72 to settle at 287.03 in the inter-bank market.

The rupee cumulatively moved down by around Rs10 in the last couple of weeks.

In early October, PKR maintained a positive close for nearly a month which was one of the longest appreciation runs.

Leave a Reply

Your email address will not be published. Required fields are marked *