Pakistani Rupee Fall
Pakistani rupee falls below 185-mark against dollar
Islamabad: Pakistani rupee lost further ground on Wednesday as fell below the 185-mark in the inter-bank market to close at 185.92 against the US dollar, media reports said.
According to the State Bank of Pakistan (SBP), the local currency lost 0.80% (or Rs1.48) to close at Rs185.92 against the greenback in the interbank market as concerns over weak economic fundamentals weighed in on the sentiment, reports Geo News.
The fresh decline comes on the back of buying dollars from oil importers, high global commodity prices, and depleting foreign exchange reserves.
Analysts told Geo News that dollar demand from importers, especially oil, has been consistently strong in recent sessions.
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