PKR DEVALUATION CONTINUES AGAINST US DOLLAR
KARACHI: The US dollar continued to gain ground against the Pakistani rupee in the interbank market for the fourth straight day on Thursday.
According to the State Bank of Pakistan (SBP), the dollar gained Rs 0.3 against the local currency to close at 225.43 in the interbank market.
The dollar is selling for between 232 and 235 rupees on the open market, traders said.
It is pertinent to mention here that the Pakistani rupee has been under pressure for the past few weeks as Pakistan and the IMF hold talks on the ninth review of a $7 billion lending program.
Earlier, the International Monetary Fund (IMF) asked Pakistan to cut spending ahead of talks on the ninth review of a $7 billion loan program.