Share:Pakistani currency plunged to a fresh low of Rs170.66 against the US dollar in the inter-bank market on Thursday amid a strong demand as growing imports exerted pressure on the already fragile rupee. According to the State Bank of Pakistan (SBP), the local currency closed at Rs170.66 against the greenback today while the rupee traded at Rs170.43 a day earlier (Wednesday). While quick and strict measures are also required to change the market sentiments that are weakening the currency. With a fresh drop of Rs0.18 (or 0.11%), the rupee has lost 2.57% (or Rs4.28) during the month of September. The local currency has maintained a downtrend since the last few months as it has depreciated 8.32% or Rs13.12 since June 2021 and 12.07% (or Rs18.39) since its recent high of Rs152.27 recorded on May 14.

Source: The Nation September 30, 2021 12:11 UTC