Update: PKR skids to 199/USD

MG News | May 18, 2022 at 01:31 PM GMT+05:00

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May 18, 2022 (MLN): Amid prevailing uncertainty on the economic and political front along with speculative elements, the US dollar remained dominated as the Pakistani rupee (PKR) continued to bleed by 3.51 rupees against the greenback in the intraday trade compared to the previous day’s close of PKR 195.74 per USD.

The rupee was quoted at 198.32/ 198.60 (1:44 PST) with trades reported at 199.50 per USD.

In order to arrest the PKR depreciation, the representatives of exchange companies have been suggesting the government to ban the import of luxury items so that pressure on foreign exchange reserves can be eased off.

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