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Category: Business
PKR plunges by Rs4.5 in interbank market
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The Pakistani rupee’s value declined sharply in the interbank market on Wednesday, with the local currency trading at Rs265 per dollar around 1pm, according to data shared by the Exchange Companies Association of Pakistan (Ecap). This equates to a depreciation of 1.72 per cent from yesterday’s close of Rs261.5 a dollar. Ecap Secretary General Zafar …
Rupee slides to 265.83 in interbank market over IMF concerns
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KARACHI: The Pakistani currency nosedived 1.65% (or Rs4.33) to Rs265.83 against the US dollar in the interbank market at 12:45 pm on Wednesday. The latest drop follows the International Monetary Fund (IMF) expressing concern with the incumbent government regarding the still-present control of the rupee in the interbank market. The rupee also took a battering …
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