Rupee dives to 184.44 against dollar, erodes last week gains

21

Pakistani rupee remained on the downward slide against the US dollar for the second consecutive day and depreciated to 184.44 on Tuesday.

The State Bank of Pakistan said in a statement that the rupee opened at 182.54 against the US dollar in the interbank market and closed at 184.44 after shedding Rs1.9 (-1.03 percent). Within the open market, the rupee was traded at 184.30/185.80 per dollar against 182.30/183.50 a day earlier.

The rupee broke its nine-week losing streak against the US dollar last week and gained Rs3.13 (1.69 percent) by recovering from 184.68 to Rs181.55. However, during the first two days of this week, the rupee has shed Rs2.89 against the US dollar.—TLTP

Previous articleIRSA releases 87887 cusecs water
Next articleSECP announces third cohort under regulatory sandbox