US dollar once again tops Rs224 barrier
November 24, 2022 11:11 AM
The US dollar for the second time this week has topped the Rs224 barrier as it gained 19 paisas in its value against the Pakistani rupee in interbank trading on Thursday, reported 24NewsHD TV channel.
According to the forex dealers, the greenback appreciated by 19 paisas taking its rate to Rs224. The US dollar also smashed through the Rs224 barrier on Tuesday last.
Yesterday, the US dollar was closed at Rs223.81.
The Pakistani rupee overall lost value against the greenback during the previous as well as the current week in the inter-bank market amid reports that talks with the International Monetary Fund (IMF) have been further delayed as the global lender linked arrival of its mission in Islamabad with finalisation of macroeconomic framework with necessary adjustments.
The Pakistani rupee saw somewhat greater pressure, with investors also concerned over rising domestic political noise and declining foreign exchange reserves.
In a key development, Pakistan’s current account deficit (CAD) clocked in at $0.57 billion in October 2022, against a deficit of $0.36 billion reported in September 2022, registering an increase of over 56%, the State Bank said on Monday last.
Reporter Ashraf Khan