Rupee Touches New Low Against US Dollar

(@Abdulla99267510)

Rupee touches new low against US dollar

The rupee is being traded at Rs222 against the US dollar in the interbank market.

LAHORE: (UrduPoint/Pakistan Point News-July 19th, 2022) The rupee fell to a new low of 2012 against the US Dollar in the interbank trade on Tuesday.

The rupee fell down by Rs5.80 in the interbank market after yesterday's close of Rs215.20.

The rupee is at Rs222 against the dollar today.

The State Bank of Pakistan showed that the rupee lost Rs4.25, or 1.97%, against the US dollar.

It was the highest day-on-day depreciation after March 26, 2020.

On June 22, the rupee had closed at a record low of 211.93 against the greenback and since then the Currency has remained volatile.

The ruling PML-N's defeat in the Punjab by-elections triggered political uncertainty along with import pressure taking the Pakistani rupee to new lows.

Abdullah Hussain

Abdullah Hussain is a staff member who writes on politics, human rights, social issues and climate change.