KARACHI: The Pakistani rupee continued to slide for the eighth straight session against the US dollar on Tuesday.
The local currency closed at Rs231.92 per dollar, down 0.91 per cent from yesterday’s close of Rs229.82.
Interbank closing #ExchangeRate for todayhttps://t.co/ITFdjpKw8B pic.twitter.com/LxIGLPyVyd
— SBP (@StateBank_Pak) September 13, 2022
Traders have said the Pakistani rupee is expected to continue depreciation against the greenback during the ongoing week as no clear strategy to turn around the economy is driving away investors.
The pressure could remain till friendly countries gave the $4 billion they had promised prior to the deal with the International Monetary Fund, he said.
The rupee has been losing ground against the dollar since Sept 2. It fell by Rs9.2 during the last week to close at Rs228.18. In the opening session this week, the rupee lost another 1.64.
