Pakistani Rupee falls further against US dollar

Pakistani Rupee falls further against US dollar

The Pakistani rupee continues its downward slide as the local unit loses its value by 10 paisa in the interbank trading.

According to the money dealers, the US dollar refused to budge on Wednesday and gained 10 paisa in its value during the morning trading activity. The American currency was traded for Rs224.80.

Yesterday, the Pakistani rupee shed 5 paisa and settled the trade at Rs224.70.

The local unit is under pressure due to bleak economic indicators, political uncertainty and concerns regarding default in the face of delayed IMF talks on the ninth review.

During a TV talk show last night, Finance Minister Ishaq Dar and former finance head Miftah Ismail differed on country’s default perspectives.