US dollar takes a breather against Pakistani rupee

By: News Desk
Published: 10:29 AM, 7 Jul, 2022
US dollar takes a breather against Pakistani rupee
Caption: Representational image.
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The US dollar took a breather in the intrabank trading on Thursday, losing eight paisas in its value against the Pakistani rupee, reported 24NewsHD TV channel.

The greenback which delivered some heavy blows to the Pakistani currency during the last couple of days settled for the day at Rs207.91 after shedding eight paisas.

On Wednesday, the US dollar settled the day for Rs207.99 after gaining Rs1.05. In the open market the US dollar had topped the Rs209 mark.

The Pakistani rupee which was constantly gaining some ground against the US dollar for almost a week, lost its steam Tuesday as its value was depreciated by a massive 2.38 in the interbank trading.

It was observed that after the announcement of the Memorandum of Economic and Financial Policies (MEFP) received from IMF for the combined 7th and 8th reviews on June 28, the rupee started its upward trajectory against the greenback in the interbank market.

Now, experts said the fresh decline in rupee's value was due to repayments pressure and increase in dollar demand.

Reporter Ashraf Khan