Pakistani Rupee Pakistani drops by over Re1 against US dollar
Islamabad: Pakistani Rupee dropped by over Re1 against the US dollar during intraday trading in the interbank market on Friday, media reports said.
The rupee was trading at Rs193 after shedding Rs1.23 on Friday. The currency has dropped nearly 3% in the last five sessions since Monday, Geo News reported.
Speaking to Geo.tv, Exchange Companies Association of Pakistan (ECAP) Chairman Malik Bostan said that the widening trade deficit and political uncertainty are adding pressure on the dwindling rupee.
“When the new government took charge, the rupee recovered to Rs181 from a record high-level of Rs189; however, after ousted prime minister Imran Khan announced to hold a long march, the rupee once again broke all records,” he said.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
