Rupee continues downward trend against dollar in interbankBreaking

September 13, 2022

The Pakistani rupee on Tuesday maintained its downward trend for the eighth consecutive working day, as it fell by Rs1.18 against the US dollar in the interbank market. According to the Forex Association of Pakistan (FAP), the Pakistani rupee dropped to Rs231, after losing Rs1.18 during intraday trading in the interbank market. Meanwhile, the currency dealers at the open market continued to sell the domestic currency at Rs236 to Rs238 for one dollar, the forex association added. The rupee has cumulatively lost 5.13 percent (or Rs11.22) in interbank market in the past seven successive working days compared to the recorded rate of Rs218.6 on August 1, 2022. The currency had previously hit an all-time low of Rs239.94 on July 28, 2022.

Credit: Independent News Pakistan-INP