PKR continues to slide against the Greenback for 11th straight day
- By Web Desk -
- Sep 16, 2022
The Pakistani Rupee (PKR) continued its losing streak against the US dollar (USD) after dropping by Rs0.96 to settle at Rs236.84 in the interbank market on Friday, ARY News reported.
Interbank closing #ExchangeRate for todayhttps://t.co/tuUUc7Tv7c pic.twitter.com/916pv7nibf
— SBP (@StateBank_Pak) September 16, 2022
According to the State Bank of Pakistan (SBP), the local currency lost Rs0.96 and traded at Rs236.84, depreciating 0.41% from yesterday’s close.
The Forex Association of Pakistan (FAP) stated that the banks sold dollars at Rs237.30. Meanwhile, in the open market, the greenback was being sold at Rs240-242.
In the last ten consecutive trading sessions, the Pakistani rupee has fallen by Rs17.41 against the greenback.
A day earlier, the local currency continued its losing streak against the US Dollar for the 10th consecutive working day, falling by Rs1.56 in the interbank market.
Also Read: Rupee extends losses against dollar, falls by Rs1.56 in interbank
The PKR’s battering continued despite the State Bank of Pakistan confirming that Pakistan has received a loan tranche of US$1.16 billion from the International Monetary Fund (IMF).