PKR slide continues against USD in interbank

KARACHI: The Pakistani rupee continued its downward trend on Wednesday, sliding further Rs1.40 against the US dollar in the interbank market, according to State Bank of Pakistan (SBP) data.

According to the central bank, the dollar was closed in the interbank market for Rs304.45.  It had closed yesterday at Rs303.50.

In the open market, however, the dollar was trading over Rs320.

The Pakistan Stock Exchange (PSX) remained under pressure on Tuesday as the benchmark KSE-100 index lost over 500 points.

The KSE-100 index closed at 46,244 points, dropping by over 700 points from yesterday’s close of 46,770.

According to economic experts, the fall in the KSE was due to a lack of clarity on politics and the economy.