Rupee falls to over 11-month low as dollar climbs to Rs166.28

16
Karachi

Pakistan rupee weakened by Rs1.08 (-0.65 percent) against the US dollar in the interbank on Wednes-day despite the country receiving $2.75 billion from the International Monetary Fund (IMF) a day ear-lier.

According to the State Bank of Pakistan, the US dollar opened atRs166.20 and closed at Rs166.28.

This is the lowest level of Pakistani rupee against the US dollar since September 21, 2020. Within the open market, the rupee was traded at Rs166/166.50 per dollar.

Overall, Pakistani rupee shed Rs2.10 against th e US dollar during the last three days, while depreciation during the fiscal year 2021-22 has been Rs8.92. The local unit has shed Rs6.09 against the US dollar in the current year 2021.—TLTP

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