Wednesday, September 28, 2022

Under Shehbaz govt, PKR depreciated by Rs56 against US dollar: report

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KARACHI: The Pakistani rupee declined by Rs56.72 against the United States (US) dollar in the first six months of Prime Minister Shehbaz Sharif-led coalition government.

According to a report by currency dealers, the rupee witnessed massive depreciation from Rs 178 against the US dollar in April 2022 to Rs 239.65 in September 2022, a decline of Rs56.72 over the past 6 months.

The rupee hit an all-time low of 239.94 on July 28, 2022.

The Pakistani rupee weakened by Rs8.66 against the United States (US) dollar in the interbank currency market in previous week.

Mwanwhile, rupee finally ended its 15-session depreciation run against the US dollar, and closed with a marginal gain of 0.03% in the inter-bank market on Friday.

 

As per the State Bank of Pakistan (SBP), the rupee closed at 239.65 after appreciating Re0.06 or 0.03%. During the last 16 trading sessions, the rupee has cumulatively declined by Rs21.05 or 8.8% against the US dollar.

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