KARACHI
The Pakistani rupee continued its losing spree despite encouraging reports on the financial front from Saudi Arabia and the International Monetary Fund (IMF) and fell to a new all-time low of 201.92 against the US dollar on Wednesday.
The local currency has been setting all-time new lows for the last 12 sessions. The State Bank of Pakistan said in a statement that the dollar opened at Rs201.41 in the interbank market and closed at Rs201.92 after losing 51 paisas (-0.25 percent). Within the open market, the rupee was traded at 202.5/203.5 per dollar against 202/203 a dollar a session earlier.
The local unit shed Rs1.78 during the last three sessions after losing Rs13.51 during the previous two weeks. Overall, the rupee has depreciated by Rs44.43 against the US dollar during the ongoing fiscal year 2021-22 and Rs25.61 during the current year 2022.
