Thursday May 26, 2022

Rupee Depreciates By 91 Paisas Against US Dollar

Karachi: The Pakistani rupee on Thursday depreciated by 91 paisas or 0.04% against the US dollar to close at Rs202.01.

The Pakistan rupee continues to slide under pressure as the federal government struggles to maintain and prop up forex reserves but in vain.

In the open market, the US dollar rose by 50 paisas and was trading at Rs203.50.

Market sources say currency dealers were expecting a statement towards an agreement between Pakistan and the IMF on the 7th review, but the Doha talks ended inconclusively.

The IMF statement issued after the talks urged Pakistan government to implement the agreement Pakistan had signed in February under the Imran Khan government and abolish fuel and power subsidies.

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