Thursday, February 9, 2023

Pakistani rupee continues to lose strength against US dollar

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KARACHI: The rupee continued to depreciate against the US dollar in the interbank market on Tuesday, ARY News reported.

According to the State Bank of Pakistan (SBP), the local currency depreciated by Rs0.25 against the greenback to close at Rs230.40.

The dollar is being sold between Rs238 to 242 in the open market, the forex dealers said.

In the past five weeks, the rupee has dropped value consecutively every day.

Pakistan and the International Monetary Fund (IMF) have yet to finalise schedule for talks as the government’s request for lender’s mission remained unanswered.

According to sources, the government had requested the lender to send its mission to Pakistan at the earliest to conclude a long-awaited agreement to revive the loan programme.

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