Wednesday, July 6, 2022
HomeEconomyRupee continues to drop against US dollar in interbank market

Rupee continues to drop against US dollar in interbank market


US Dollar’s rate is continuously rising as compared to Pakistani Rupee and has risen by Rs1.06 in the Interbank on Monday.

Enduring the rough patch amid weakening macros has kept the dollar demand elevated and after the increase, the greenback is now being traded Rs.201.2.
Read more: Inflation rises with 1.42 pc gain
The local currency is being weighed by depleting foreign exchange reserves and uncertainty over the resumption of the International Monetary Fund (IMF) program.
Meanwhile, the Pakistan Stock Exchange (PSX) also witnessed a bearish trend as benchmark KSE-100 index fell by over 450 points.

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