PKR continues slide against USD for sixth consecutive session

The Pakistani rupee showed a consistent trend of depreciation against the US dollar, marking the sixth consecutive session of losses in the inter-bank market on Monday.

According to data shared by the State Bank of Pakistan (SBP), the rupee settled at 280.95, reflecting a decrease of Re0.38.

During the previous week, the rupee experienced a decline of 0.63% against the US dollar, amounting to a decrease of Rs1.77 in the inter-bank market. The week began at 278.80 and concluded at 280.57.

On the same day, the Pakistani rupee also faced depreciation in the open market. Currency dealers reported exchange rates of 282.5 for selling and 279.5 for buying.

In the previous week, the local currency observed a 1.00 rupee decrease for both buying and selling against the US dollar, eventually closing at 278.50 and 281.50, respectively.