Rupee depreciates slightly against US dollar

PKR continues losing streak, down by 1.39 rupees


Karachi: In intra-bank trading on Tuesday, the Pakistani rupee continued to fall against the U.S. dollar (USD).

So far, the local currency has depreciated 1.39 rupees, while the U.S. dollar is trading at about 171.90, compared to the previous day’s closing price of 170.51.

According to experts, PKR has appreciated by about 5 rupees as a result of Saudi Arabia’s announcement of a US$4.2 billion rescue plan; however, the re-emergence of uncertainty due to the IMF’s plan is contributing to the current depreciation.

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