Islamabad: The US dollar continued to gain value against the Pakistani rupee on Thursday, the rupee hits another low at 240 per USD in the interbank market, it has lost around four rupees compared to the previous close of 236.02 per USD.
Interbank closing #ExchangeRate for todayhttps://t.co/3HKHwEmKLf pic.twitter.com/OZl2VqDeLR
— SBP (@StateBank_Pak) July 28, 2022
On Wednesday, the US dollar increased by Rs3.09 against rupee in the interbank and traded at Rs236.02. In open market, the greenback traded between Rs238 and Rs239.
The rupee is under constant pressure, market analyst point towards political instability which poses a threat to Pakistan’s economy. Worries over Pakistan’s funding needs including the delay in revival of IMF program, a massive current-account deficit, and high inflation are all compounding, putting pressure on the local currency.
