Rupee plummets 43 paisa to 166.39 against dollar


Pakistan rupee continued its losing streak and weak-ened by another 43 paisas (-0.26 percent) against the US dollar in the interbank on Tuesday.

According to the State Bank of Pakistan, the US dollar opened atRs165.96 and closed at Rs166.39. Within the open market, the rupee was traded at Rs166/167 per dollar.

Overall, Pakistani rupee shed Rs0.77 against the US dollar during the last two day, while depreciation during the fiscal year 2021-22 has been Rs9.03. The local unit has shed Rs6.20 against the US dollar in the current year 2021.

According to currency experts, the market witnessed higher demand for the dollar. —TLTP

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