Rupee plummets for fourth day to 186.97 against dollar

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KARACHI: Pakistani rupee plummeted against the US dollar for the fourth consecutive day and depreciated to 186.97 on Thursday. The State Bank of Pakistan said in a statement that the rupee opened at 185.92 against the US dollar in the interbank market and closed at 186.97 after shedding Rs1.05 (-0.56 percent). Within the open market, the rupee was traded at 186/187.80 per dollar against 186/187.50 a day earlier. During the last four days of this week, the rupee has shed Rs5.42 against the US dollar and slipped to 186.97 from 181.55. Overall, the rupee devalued by Rs29.54 against the US dollar during the ongoing fiscal year 2021-22 and Rs10.52 during the current year 2022. TLTP