The Pakistani rupee continued to extend its losses on Wednesday, falling by Rs1.04 against the dollar during morning trade in the interbank market.
The PKR was being traded at Rs220.75 per dollar around 11:13am, a depreciation of 0.47 per cent from yesterday’s close of Rs219.71, data shared by the Forexx Association of Pakistan showed.
The dollar had managed to make a slight gain against the rupee on Oct 12, breaking its 13-day rally triggered after the announcement of Ishaq Dar’s appointment as finance minister.
The local currency appreciated by almost Rs22, or 10.1pc, against the greenback in those 13 sessions. However, since the reversal of the trend, the PKR has lost Rs1.92, or 0.88pc, in the last five sessions.
