Last Updated on: 29th June 2023, 06:08 am
The Pakistani rupee (PKR) value continues to slump against the US dollar continuously for the fourth day in a row.
PKR fell 23 paisas against the USD today to close at Rs. 153.45 per dollar at the end of today’s trading day (Thursday, May 20th) compared to Rs. 152.22 against the US dollar on Wednesday, May 19th ).
It has lost more than a rupee (Rs. 1.16) against the dollar in the past four sessions.
Also Read: Latest Dollar Rate in Pakistan Today 20th May 2021
Traders said the local unit is under pressure, mainly due to increasing demand from importers and businesses for the USD, as operations resume after the weeklong Eid vacation.
In recent weeks, dollar inflows from Pakistani foreigners helped keep the rupee stable, but demand for dollars from importers and corporations is putting pressure on local unity.
After two days of total losses in the interbank currency market, the rupee had better days against the other major currencies today and yesterday. The rupee reversed its loss against the euro yesterday and is up 23 countries today.
It also saw 79 countries gain against the British pound sterling (GBP), two countries against the Australian dollar (AUD) and 33 countries gain against the Canadian dollar (CAD).
The downward trend in the PKR continued against the United Arab Emirates dirham (AED) and Saudi riyal (SAR), with six countries losing to both countries.
