Rupee Hit Historic Low Against Dollar As Trade Week Closes

(@fidahassanain)

Rupee hit historic low against dollar as trade week closes

The report said that the rupee ended its day weaker and further shed 0.26 per cent against the greenback.

KARACHI: (UrduPoint/Pakistan Point News-Sept 10th, 2021) The Dollar has touched the sky against Pakistani rupee as the closing rate of the U.S. dolla in the foreign exchange market stood at Rs168.08 marking a -0.21 per cent devaluation of the local Currency compared to yesterday charts.

Taking to Twitter, State Bank of Pakistan updated the closure of US dollar and value of the local currency in the inter-bank. The report said that the rupee ended its day weaker and further shed 0.26 per cent against the greenback.

On Thursday, the Pakistan rupee depreciated 41 paisas against the United States (US) dollar in the inter-bank currency market on Thursday.

According to the State Bank of Pakistan (SBP), the local currency closed at Rs167.66 against the greenback, registering a depreciation of 41 paisas over the previous close of Rs167.25.

Pertinent to note that the Pakistani rupee had touched an all-time low of 168.43 against the greenback last year in August before recouping some losses to hit a 22-month high of Rs152.95 in April 2021.

Fida Hussnain

Fida Hussnain is a lahore based journalist. He writes on politics, religion, social issues and climate change. He is also a research fellow at University of Gujrat.