KARACHI – Pakistani rupee continues its downward trend against the US dollar and further lost ground in the interbank market on the last working day of the week.
The greenback delivered another blow to the Pakistani rupee in the interbank trading on Friday, as PKR further moved down as much as Rs0.89. Data shared by State Bank reveals that USD closed at Rs288.49, after continuous gains.
PKR faced a blow against the US dollar for back-to-back consecutive sessions despite foreign exchange inflows subsided.
Interbank closing #ExchangeRate for today https://t.co/42f9zwNeES#SBPExchangeRate pic.twitter.com/iVe27rnHUl
— SBP (@StateBank_Pak) August 11, 2023
The pressure stayed on the rupee as import curbs are being removed in light of demands made by the International Monetary Fund (IMF).
Globally, the dollar firmed across the board post an unacceptable set of Chinese trade figures, with European currencies moving down on the worsening global outlook.
Gold price sees increase in Pakistan despite drop in international market
