KARACHI – Pakistani rupee continues to decline due to the growing stronger greenback and deteriorating external finances.
Data shared by the central bank suggests that the local unit suffered losses against the greenback for the twelfth successive session as it further moved down by 0.38 percent in the inter-bank market.
After back-to-back losses, the rupee settled at 286.39, with a drop of Rs1.10.
On Monday, the local currency depreciated 0.34pc to settle at 285.29 against the greenback.
Pakistani currency remains under pressure in light of import payments pressure.
US Dollar Rate in Pakistan today
During the intra-day trading, the local unit was quoted at 286 for selling and 283 for buying purposes for customers.
Last month, the Pakistani rupee maintained a positive close for around a month in one of the longest appreciation runs as it gained more than 10 percent of value after bouncing back.
