Pakistani rupee neared an rock bottom after another fall against the US dollar. As per the depository financial institution of Pakistan (SBP), the currency closed at 168.02 against the dollar within the inter-bank market, registering a decline of Rs 0.36 or 0.21 per cent.
Dropping below the 168 level, the Pakistani rupee inched near rock bottom recorded against the US dollar on August 26, 2020, reported Business Recorder.
As per Arif Habib Limited, the Pakistani rupee has lost 6.2 per cent since June 2021 and 9.4 per cent against the USD since its recent high recorded on May 14, 2021.
“Rupee’s decline can only be stopped if imports are curtailed, and exports/remittances increase,” Malik Bostan, Chairman Forex Association of Pakistan, told Business Recorder.
