Pakistani rupee continues free fall for sixth straight session

The Pakistani rupee’s losses continued on Wednesday for the sixth consecutive session against the US dollar in the interbank market, ARY News reported.

According to the State Bank of Pakistan, the rupee lost Rs1.29 and closed at 220.88 as compared to the previous day close of Rs219.71.

Interbank closing #ExchangeRate for todayhttps://t.co/Bxnqj6yBLq pic.twitter.com/JvzpjfUM1E

— SBP (@StateBank_Pak) October 19, 2022

In open market, the United States Dollar is sold between Rs225 to Rs228, said forex dealers.

The local unit had finished Rs219.71 against the US dollar yesterday.

Meanwhile, Finance Minister Ishaq Dar claimed Tuesday that the dollar rate will be returned to its original value soon.

Ishaq Dar, while talking to journalists in Britain, said that talks with the International Monetary Fund (IMF) remained successful and he held 58 meetings with IMF officials during his four-day visit to Washington.

He said that the US dollar rate was increased by a few paisas which will be returned to its original value soon.

Answering to question, Dar said that he held discussions with Nawaz Sharif on various topics but not all of them will be disclosed before the public.