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KARACHI: In the midst of a shortage of the US dollar in the country, the Pakistani rupee fell against the greenback for the 14th session in a row on Wednesday, trading at 240 in the interbank.
In the interbank market during intraday trade, the rupee plunged to 240 after losing 1.09.
The Pakistani rupee lost ground against the US dollar on Tuesday, falling for the 13th straight session to close with a loss of 0.42% at 238.91 in the interbank market as the local currency was under pressure due to expectations of a growing trade deficit and a strong US dollar.
One of the poorest performing currencies in emerging economies, the rupee has lost about 9% of its value so far this month due to a variety of causes.
Previously, on July 28, 2022, the rupee hit an all-time low of 239.94.
The currency has been under renewed pressure despite release of the International Monetary Fund (IMF) tranche of $1.16 billion earlier this month.