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Update 5: PKR bleeds by 3.79 rupees in intraday trade

Update 5: PKR bleeds by 3.79 rupees in intraday trade
Update 5: PKR bleeds by 3.79 rupees in intraday trade
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July 18, 2022 (MLN): Drip by drip, the Pakistani rupee (PKR) is losing its ground against the US dollar as the currency has plummeted by 3.79 rupees in the interbank market [12:47 PST].

The local unit was quoted at PKR214.65/215.15 per USD with trades being reported at 214.75 per USD. 

“Yesterday's Punjab by-elections have increased political uncertainty which breeds economic instability. Despite Miftah's assurances of forthcoming help from overseas friends, Rupee is sliding,”  Former Finance Minister Shaukat Tarin said while taking to his Twitter handle.

“We need to announce general elections to kill this uncertainty,” he added. 

Copyright Mettis Link News

Posted on: 2022-07-18T12:50:13+05:00

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