Pakistani rupee down to all-time low against U.S. dollar

0 Comment(s)Print E-mail Xinhua, June 21, 2022
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ISLAMABAD, June 21 (Xinhua) -- Devaluation of the Pakistani rupee against the U.S. dollar continued as the greenback touched a historic high of 211.48 rupees in interbank trading on Tuesday.

The U.S. dollar closed at 209.96 rupees on Monday, and on Tuesday it was traded at 211.48 rupees, after the local currency nose-dived by 1.52 rupees, money market analysts reported.

The rupee has suffered a big loss of 6.4 rupees during five consecutive sessions last week, said Mettis Global, a web-based financial data and analytics portal.

Since April this year, the U.S. dollar has surged up to nearly 30 rupees in Pakistan.

According to analysts, this depreciation is a result of economic uncertainty in the country mainly due to the delay in the finalization of an International Monetary Fund program. Enditem

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