The Pakistani rupee continues to take a beating as it set the seventh all-time low of 177.89 against the US dollar on Monday. According to the State Bank of Pakistan, the dollar opened at Rs177.71 in the interbank market and closed at Rs177.89, shedding 10 paisas or -0.10 per cent. Within the open market, the rupee was traded at 179.50/180.30 per dollar. Article continues after this advertisementThe rupee has maintained the downtrend for the past seven months. According to analysts, the rupee will lose more ground against the US dollar during the next week if the State Bank of Pakistan (SBP) does not intervene till the completion of the sixth review of the International Monetary Fund’s (IMF) $6bn loan programme.

Source: Pakistan Today December 13, 2021 21:50 UTC