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KARACHI: The PKR continued to lose its value on Thursday, with analysts attributing the fall to a higher demand for dollars, particularly by travellers flying to the United Arab Emirates.
According to the State Bank of Pakistan (SBP), the local currency closed at Rs219.41 per dollar in the interbank market — a depreciation of Rs1.03 or 0.47 per cent.
In the open market, the rupee was being traded at Rs228 per dollar around 4:40pm, data shared by the Forex Association of Pakistan showed.
Komal Mansoor, head of research at Tresmark, said demand for dollars in the open market was “creating a stir” in the interbank.
The local currency had fallen to a record low of Rs239.94 on July 28. It had then recovered for 11 straight sessions, closing at Rs213.90 on August 16.
However, the rupee again started falling from August 17. It had lost Rs3.5 till Aug 24 (yesterday).
