Pakistani Rupee falls further against US dollar

Pakistani Rupee falls further against US dollar
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*ISLAMABAD - *The Pakistani Rupee falls further against the US Dollar in the open market.

As per the media report rupee lost over one-rupee to Rs128 to the US dollar on speculation that the government would let the currency depreciate further under the influence of the International Monetary Fund (IMF).

“Dollar is priced at Rs128 (a new two-month low),” said a dealer at Galaxy Exchange Company in Karachi.

Currency dealers reported they closed the rupee-dollar trade in the range of Rs126.8 to Rs128 compared to Rs126.1 to Rs126.8 a day earlier.

In the officially run inter-bank market, the currency trade ended at a stable level of Rs124.24 on the last working day of the week on Friday, according to the State Bank of Pakistan (SBP).

Economy