Pakistani rupee continued its losing streak against the US dollar in the inter-bank on Wednesday and set another all-time low against the greenback within twenty-four hours.
According to the State Bank of Pakistan, the rupee shed 18 paisas (-0.11 percent) against the greenback in the interbank.
The US dollar opened atRs168.94 and closed at Rs169.12. The rupee made a historic low a day earlier at Rs168.94 to the dollar and failed to stop depreciation in its value, with falling to a new low. Within the open market, the rupee was traded at Rs169.20/169.80 per dollar.
Overall, Pakistani rupee shed Rs1.10 in last three days against the US dollar, while depreciation during the fiscal year 2021-22 has been Rs11.68. The local unit has shed Rs8.85 against the US dollar in the current year 2021.
The local currency has maintained downtrend after it touched 22-month high of Rs152.27 in May 2021, losing a cumulative Rs16.81 in the past four months to date.—TLTP