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US Dollar 14th Day Winning Streak Continues – PKR Record Low

US Dollar Winning Streak Against Pak Rupee Continues:

The Pakistani rupee resumed its downward trend against the US dollar in the interbank market on Wednesday, falling to a record low of Rs240 during intraday trade.
The Pakistani rupee decreased by Rs1.9 during intraday trading in the interbank market, according to the Forex Association of Pakistan (FAP), from the previous session’s closing of 238.91.

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:

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.

Also Read: 

US Dollar 13th Day Winning Streak Vs Pak Rupee Continues

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