KARACHI: The first working day of the week saw the Pakistani rupee fall 0.14 percent in the interbank market as it continued to weaken versus the US dollar.
The local currency suffered slight losses during the trading process compared to the dollar. PKR was fluctuating at 284.8, down Rs0.4.
In response to the growing economic turmoil, the Pakistani rupee lost 0.09 percent more value last week against the US dollar.
A significant decline in State Bank reserves, which now only cover less than one month’s worth of imports, highlights the need to restart the project.
When Saudi Arabia and the United Arab Emirates arrived, it had an impact on the market’s mood, but now that the country is experiencing its greatest economic crisis in recent memory, all eyes are on the IMF bailout plan.
