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The Pakistani Rupee (PKR) has continued its downward trajectory for the third day in a row as it went down by Rs. 40 paisas against the US Dollar (USD).
Rupee Posts Massive Losses Against All Major Currencies ALSO READ The PKR closed at Rs. 154.37 to the USD at the end of the trading day today (Tuesday, 25 May) as compared to Rs. 153.69 to the USD on Monday (24 May). The GDP projections that have been making headlines might have signaled a position of strength for the PKR in the international currency market, but today’s movements turned out to be different. Regarding this, the former Treasury Head at Chase Manhattan Bank, Asad Rizvi, said earlier in the day, “Today Rupee is expected to open with a weaker tone around 154 levels against ye...
Rupee Opens the Week With Loss Against the US Dollar ALSO READ Today, PKR went down by 32 paisas against the USD. This is exactly equal to the appreciation PKR had posted against the USD on May 7. PKR closed at Rs. 152.60 to the USD at the end of the trading day today (Monday, 17 May) compared to Rs. 152.28 to the USD on Friday (7 May). PKR had hit a nearly two years high against the greenback on May 7, 2021 – the last trading day in the interbank currency market before week-long holidays as announced by the government. Former Treasury Head at Chase Manhattan Bank, Asad Rizvi, commenting on...
Rupee Drops to Another Low Against US Dollar as Rapid Depreciation Continues The Pakistan Rupee (PKR) continued its downward movement against the US Dollar (USD) in the currency market from the entire previous week to the opening day of the current week. The PKR deteriorated by 26 paisas in the interbank currency market against the greenback today, crossing the Rs. 154 barrier. It closed at Rs. 154.13 to the USD at the end of the trading day today (Monday, 26 April) as compared to Rs. 153.87 to the USD on Friday (23 April). ALSO READ Analysts believe that amid the higher dollar demand from im...