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Tuesday, December 24, 2024

Home Pakistan Pakistani rupee continues to weaken amid strong demand for US dollars; check latest rates here

Pakistani rupee continues to weaken amid strong demand for US dollars; check latest rates here

by Web Desk (Lahore)
November 14, 2023
in Business, Pakistan

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KARACHI – Pakistani rupee advanced losses against the US dollar for the 16th successive session as the local currency moved down further on Tuesday.

Data shared by the State Bank of Pakistan (SBP) shows rupee hovering at 287.87, with drop of Rs0.32.

In the previous session, the local unit moved down to settle at 287.55 against the greenback.

Dollar rate today in Pakistan

In the open market, the local currency remained unchanged against the US dollar today on Tuesday.

During the intra-day trading, the local currency was quoted at 289 for selling and 286 for buying.

The struggling currency is expected to bounce back as policy-level talks with the International Monetary Fund (IMF) is underway to secure $710 million of the $3 billion loan programme.