Weekly review: US Dollar extends upward trend against rupee
- By Anjum Wahab -
- Sep 17, 2022
KARACHI: The Pakistani rupee weakened by 8.66 paisas against the United States (US) dollar in the interbank currency market in the outgoing week.
According to a weekly report, the greenback closed at Rs236.84 against the domestic currency, as compared to Rs228.18 at the start of the business week.
In the open market, the US dollar appreciated by Rs6.50 to close at Rs241 from Rs234.50 at the start of the business week.
Read more: British pound falls to 37-year low
In the last ten consecutive trading sessions, the Pakistani rupee has fallen by Rs17.41 against the greenback.
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).