The Pakistani rupee continued its downward trend on Friday with the local currency plunging Rs 8.87 against the US dollar in the interbank market. The rupee’s freefall started soon after the government eased its control over the currency in order to convince the International Monetary Fund (IMF) to release the pending loan tranche.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Pakistani rupee reaches all-time low against US dollar

Pakistani rupee continued to depreciate steeply against the United States (US) dollar…

Pakistan ‘offers’ zero-tariff bilateral trade to US

Pakistan has proposed a zero-tariff bilateral trade agreement with the United States…

Dollar weakens after govt’s warning to reign in currency

Karachi: The government’s warning to reign in currency speculation again pushed down…

IMF raises objections to Pakistan’s budget for FY24

Islamabad: The International Monetary Fund (IMF) raised serious objections over the budgetary…