Pakistani rupee continues to fall against US dollar
Oct 22, 2021
Islamabad [Pakistan], October 22 : The Pakistani rupee continued record drop against the US dollar and fell to Rs 173.96 against USD during intra-day trading on Friday.
The US dollar opened at Rs 173.96 in the interbank market and appreciated 34 paisas in early trade, touching the highest ever mark at Rs 174.30, ARY News reported citing forex dealers.
The Pakistani rupee is sliding against the US dollar continue despite Pakistan's government claims to ease the pressure on the exchange rate.
Reza Baqir, State Bank of Pakistan's Governor, had earlier created quite a stir on social media after he defended the rupee depreciation saying it benefited overseas Pakistanis and claimed that inflation in the country was artificial and would be controlled, according to ARY News.
According to the State Bank of Pakistan, the US dollar on Friday closed at 173.96 against the Pakistani rupee, registering appreciation of Rs 0.49 or 0.28 per cent over Thursday's close of Rs 173.47.
