Tuesday April 19, 2022

Dollar Appreciates Against Pakistani Rupee

KARACHI: The Pakistani rupee fell on Tuesday as higher dollar demand from importers pushed the US dollar higher.

According to the State Bank of Pakistan (SBP), the local currency lost 1.03% (or Rs1.9) to close at Rs184.44 against the greenback in the interbank market as concerns over weak economic fundamentals weighed in on the sentiment.

Currency dealers say the rupee has been under pressure since yesterday (Monday) due to import payments. Moreover, the outlook seems bleak on the back of a stalled International Monetary Fund (IMF) programme, the widening of the trade deficit and depleting foreign exchange reserves

← Back>