The Pakistan Rupee (PKR) continues to slide down against the US Dollar forthe third day in a row after a week’s halt in trading owing to the Eidholidays, crossing the Rs. 153 mark today.——————————

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PKR went down by 33 paisas against the USD today, closing at Rs. 153.22 tothe USD at the end of the trading day today (Wednesday, May 19) compared toRs. 152. 89 to the USD on Tuesday (May 18).

PKR has lost almost an entire rupee (94 paisas) to the greenback in thelast three sessions.

Dealers said that the local unit was under pressure primarily due toincreased demand for the USD from importers and companies, as tradingresumed after a weeklong holiday due to Eid.

PKR had hit a nearly two years high against the greenback on May 7, 2021 –the last trading day in the interbank currency market before week-longholidays as announced by the government. Now it’s on a consistent losingtrajectory again.

Against other major currencies, the Pakistani Rupee saw a better day todayafter two days of blanket losses in the interbank currency market.

PKR deepened its loss against the Euro from yesterday by 46 paisas today.However, it turned the tide with gains of 4 paisas against the PoundSterling (GBP). PKR also posted a gain of nearly 47 paisas against theAustralian Dollar (AUD), and a gain of nearly 42 paisas against theCanadian Dollar (CAD).