PKR continues slide against USD for sixth consecutive session

As per SBP, the local unit settled at 280.95, reflecting a decrease of Re0.38 in interbank

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.

The recent fluctuation comes after a remarkable 28-day winning streak for the Pakistani currency, which concluded on October 17, 2023.

According to a report by Profit, the rupee had fallen to a record low of PKR 307.09 per dollar on September 5. But following a crackdown by agencies on illegal foreign exchange trading and structural reforms introduced by the central bank, the rupee had recovered every day in the interbank market since then. It had gained PKR 30.26 or 9.85% prior to today’s depreciation.

2 COMMENTS

  1. Con artists have been scamming and scheming since ancient times. And yet every generation seems to bring a new bag of tricks, inspired by the latest app, platform, or pandemic there is to exploit.This time I fell into an investment designed to alleviate me from poverty, the economy was hitting hard and my taco’s restaurant was in a bad place financially. It was either I get run down by time due to low capital or somehow double my capital and I always hear how cryptocurrency is not only a risk but a good investment strategy if done right . Being desperate I I got engaged with cyber criminals who ran a network of investment scam from the broker to the website where I invested, they ripped me off as much as USD 677K under a month . i thought I was as careful as ever but their superpower is using the right word, asking the right questions because the process of being fooled takes place inside our minds,it’s up to us to realize when we are being taken. When Is I did realize I was on a rampage as to how to recover my asset but no matter what I did it looked like I was always hitting a dead end with no positive lead on how to recover my lost crypto investment, My lawyer first suggested hackers and asked me to give it a thought. Few days later, ready to try anything he connected me with “VALOR HACK RECOVERY TEAM”, anyone in my situation would have given up hope of recovery but VALOR HACK RE-COVERY TEAM recovered my asset with ease and quality experience. I’m indeed grateful for a smooth recovery process, these fraudsters are eating deep into our pockets everyday, VALOR HACK can turn that around it’s the reason I made out time to write this contact VALOR HACK now : Valorhaq @ g m ail dot com . telegram channel: Valorhaq_HQ

    We all deserve a second chance…

  2. Most times old school is and will always be the one through way because if i’d have written down my recovery phrase in my diary or somewhere safe I won’t be in this mess, who knew that I’d end up loosing my device .There are a few common ways to loose crypto, you might have a wallet on a hard drive you threw away unaware to you. You might loose your password or you might get personally hacked or have your coins stolen , for those who lost/forgot their password as I did,hackers present a silver lining.if you still control your wallet you can try to hack your own wallet ( which I doubt you have the experience to do so) or find someone who will . While searching all the reviews pointed to VALOR HACK RECOVERY TEAM, a team of anonymous hackers famous for cracking fraud related case and asset recovery. They agreed to help me break into my wallet, after a little waiting ( what’s a few days to weeks and months of endless searching ) . Didn’t take long for them crack my wallet with my coins safe and sound, losing my password made me a pretty big fan of storing crypto on exchanges. After all, if you forget your coin-base password,the process is simple.You reset your password and likely submit identification to verify that you own the account .VALOR HACK RECOVERY TEAM saved me from a lifelong regret,VALOR HACK TEAM is more than ready to tackle any problem that you may need a hacker for based on my personal experience. This team are the best “VALORHACKRECOVERY” a team that stands out,if you wish to contract them for any assignment send them an email; Valorhaq @ g mail do t com .Telegram: Valorhaq_HQ. I strongly recommend people choose a hacker that is efficient and genuine to handle their hacking need,VALOR HACK is that team you can trust.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read