US Dollar drops further against Pakistani Rupee
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In Karachi, the US dollar (USD) experienced a decline of 0.96 Pakistani rupees (PKR) in the interbank market, settling at 290.80 rupees on Monday.Foreign exchange dealers confirmed that the USD had depreciated by 0.96 PKR earlier in the day and was trading at 290.80 PKR in the interbank market.
Banks were selling the US dollar to importers at a rate of 290.20 PKR, according to currency dealers.
In the open market, the greenback was being traded at 293.50 Pakistani rupees, as reported by foreign exchange dealers.
During August, the Pakistani rupee had been experiencing a continuous devaluation, with the open market rates for buying and selling the dollar reaching as high as 322 PKR and 325 PKR, respectively.
