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PKR continues to slip towards greenback

by Pakistan Latest News Update

The Pakistani rupee is struggling towards the US greenback after its latest rally got here to a grinding halt final week.

The US greenback appreciated by Rs0.52 to rise to Rs219.50 in interbank on Monday, regardless of a $1.1 billion from the International Monetary Fund (IMF).
Rupee’s three-day profitable streak of about Rs3.30 was damaged on Thursday and on Friday the US greenback closed at Rs218.98 after rising by 38 paisas.
Within the open foreign money market on Friday, the US greenback rose by Rs4 and was being traded at Rs223.
The native foreign money appears to be beneath pressure following flash floods and resurgent political tensions.

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