The Pakistan Rupee (PKR) is continuing its downslide against the US Dollarfor the fourth day in a row.——————————

The PKR slipped by 23 paisas against the USD today, closing at Rs. 153.45to the USD at the end of the trading day today (Thursday, 20 May) ascompared to Rs. 152. 22 to the USD on Wednesday (19 May).

It has lost more than a rupee (Rs. 1.16) to the greenback over the lastfour sessions.

Dealers said that the local unit is under pressure primarily due toimporters’ and companies’ increased demands for the USD as trading resumedafter the weeklong Eid holidays. During the previous weeks, dollar inflowsfrom overseas Pakistanis had helped the rupee to be steady but consistentdollar demand from importers and companies is putting pressure on the localunit.

After two days of blanket losses in the interbank currency market, Rupeesaw better days today and yesterday against the other major currencies.

Rupee reversed its loss against the Euro from yesterday and improved by 23paisas today. It also posted gains of 79 paisas against the Pound Sterling(GBP), two paisas against the Australian Dollar (AUD), and a gain of 33paisas against the Canadian Dollar (CAD).