September 14, 2022 (MLN): Holding a losing streak against the greenback, the Pakistani rupee (PKR) touched 234.5 against the greenback in intraday trade, depreciating by 2.58 rupees compared to the previous close of PKR231.92 per USD.

The PKR was quoted at 234.44/234.54 (12:26 PST).

Wajid Rizvi Head of Research at Intermarket Securities explained the recent depreciation of rupees due to the flood situation in the country, while the US fed increasing the rates which affected the global rate of the dollar against other currencies.

“It seems that the initiative of the government and finance ministry towards the investment of dollars from friendly countries has not been productive and effective, the IMF deal had given us hope of recovering from the depreciation of rupees but it turned out to be the opposite”, he said.

Copyright Mettis Link News

Posted on:2022-09-14T12:38:05+05:00

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