Pakistani Rupee slides further against US dollar in interbank market
Shares
The bleak economic indicators are not letting the feeble rupee to take a break from its constant slumping against the US dollar as the local unit again registered a decline of 25 paisas in its value during the interbank trading on Tuesday.
The currency dealers informed that the US dollar kept up its upward trajectory during today’s trading activity and was settled at Rs230.40, up by 25 notches, towards the close.
Yesterday, the USD gained 48 paisas in its value and ended the day at Rs230.15.
The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) in its meeting on Monday announced to raise the policy rate by 100 basis points (bps) to 17% to arrest the inflationary pressure.