US dollar gains 72 paisas in value against Pakistani rupee

Published: 11:56 AM, 24 Aug, 2022
Business
The US dollar sustained its upward journey as the greenback gained 34 paisas in value against the Pakistani rupees
Caption: Representational image.

The US dollar sustained its upward journey on Wednesday as the greenback gained 72 paisas in value against the Pakistani rupees, reported 24NewsHD TV channel. 

According to the forex dealers in the interbank market, the Pakistani rupee suffered 72-paisa depreciation during the trading activity on Wednesday.

As the business concluded, the US dollar was at Rs218.38, up 72 paisas.

On Tuesday, the greenback ended the day at Rs217.66 with a one-rupee gain.

The ongoing political uncertainty is another factor that keeps dragging the local currency down.

The sky-high inflation in the country, rising trade deficit, and falling foreign exchange reserves are putting extreme pressure on the local currency.  

The IMF tranche which is expected to reach Pakistan by the end-month is likely to give a much-needed boost to our economy and revive confidence in the value of the Pakistani rupee. 

Reporter Ashraf Khan 

Categories : Business Tags : dollar, gained, against, Pakistani, rupee, paisas

News Desk