Dollar batters rupee for fourth consecutive day – Money
Pakistan’s rupee deteriorated by 21 paisas to Rs224.37 against the US dollar during trading on Thursday in the interbank market.
According to the data released by the State Bank of Pakistan (SBP) on Thursday afternoon, the value of rupee slid by 0.09% against the greenback.
As per the data posted by SBP on Wednesday, the spot rate of rupee depreciated to Rs224.16 during interbank trading.
Meanwhile, on Tuesday, the rate of rupee fell by 0.09% from Rs223.91 to Rs224.11 during interbank trading.
The rupee’s depreciation came on the back of the delay in formal talks by the global financial institution, International Monetary Fund (IMF) on the overdue ninth review.
On Monday, the figures released by the State Bank of Pakistan (SBP) showed the value of rupee sliding by Rs0.22 from Rs223.69 to Rs223.91 during interbank trading.
Open market
In the open currency market, the value of rupee increased to Rs232, respectively.
The rate to buy the US dollar also stayed at Rs229.70.
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