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PKR slumps to document low towards US greenback

by Pakistan Latest News Update

The Pakistani rupee fell by Rs1.52 towards the US greenback throughout interbank commerce on Tuesday, extending its losses from the earlier week.

The buck was altering palms within the interbank market at a document Rs298.65 at round 1pm.
Within the open market, the greenback was altering palms for Rs306.
The native foreign money closed at Rs297.13 yesterday, rising by Rs1.35 from the final week’s shut of Rs295.78, in accordance with knowledge shared by the Change Firms Affiliation of Pakistan (ECAP).
Pakistan imposed import restrictions from 2022 to stem outflows from its shrinking overseas reserves. The elimination of these restrictions starting in June was a situation of a $three billion International Monetary Fund mortgage programme to assist the crisis-ridden economic system.

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