Business & Finance

Pakistani Rupee Faces Ongoing Depreciation Against US Dollar

In both the open market and interbank, the Pakistani rupee continued its downward trend against the US dollar, influenced by a surge in demand for the greenback.

On the first working day of the week, the local currency witnessed a 0.47 decline, reaching 287.50 during the initial trading hours on Monday, indicating another decrease.

The preceding week saw consecutive losses for the rupee, with a depreciation of 0.95% or Rs2.72, settling at 287.03 in the inter-bank market.

In the past couple of weeks, there has been a cumulative decline of approximately Rs10 for the rupee.

Notably, in early October, the PKR had a positive run for nearly a month, marking one of the longest periods of appreciation.

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