US Dollar Winning Streak Against Pak Rupee Continues:
For the 14th straight working session, the local currency has declined against the US dollar. According to the FAP, banks were selling the dollar for Rs241.
Meanwhile, the greenback was trading between Rs246 to Rs248 in the open market, according to the organization.
Previously, on July 28, 2022, the rupee reached an all-time low of 239.94.
Despite the State Bank of Pakistan stating that Pakistan has received a loan tranche of US$1.16 billion from the International Monetary Fund, the PKR has continued to suffer (IMF).
The Pakistani rupee has previously lost thirteen consecutive sessions, with the local currency closing at Rs238.91 versus the US dollar in the interbank market.
The Pakistani rupee fell by Rs1, or 0.42 percent, compared to yesterday’s finish of Rs237.91, according to the State Bank of Pakistan (SBP).
Today’s State Bank Official Rates:
— SBP (@StateBank_Pak) September 21, 2022
It is worth noting that the Pakistani rupee fell by Rs8.66 versus the USD in the previous week in the interbank currency market.
According to a weekly report, the US dollar finished at Rs236.84 versus the Indian rupee, up from Rs228.18 at the start of the business week.