Rupee slips to 170.74 against dollar after shedding 21 paisa

rupee dollar

Pakistani rupee struggled against the US dollar in the interbank market on Monday and depreciated by 21 paisas (-0.12 percent).

According to the State Bank of Pakistan, the US dollar opened atRs170.53 and closed at Rs170.74. Within the open market, the rupee was traded at Rs170/171.50 per dollar.

According to currency experts, the dollar’s demand was high because the market opened after two weekly holidays.

They said that a significant trade deficit has also kept the rupee under pressure. The fresh all-time low of the local currency can be attributed to the latest reports of massive rise in import bill during the first quarter of the current fiscal year. —TLTP

Previous articleSports goods’ export increase 11% in 2 months
Next articleAluminium crosses $3,000 a ton mark after 13 years