Rupee closes just shy of all-time low against US dollar
The local currency sheds Rs1.58 or 0.78% to close at Rs202.35 after partially recovering in the last two days
June 10, 2022
- Rupee closes at Rs202.35 against US dollar.
- Local currency sheds Rs1.58 or 0.78%.
- A day earlier, rupee closed at Rs200.77.
The Pakistani rupee closed at Rs202.35 on Friday, near its all-time low against the US dollar in the pre-budget session which was unveiled after the market closed.
According to data released by the State Bank of Pakistan (SBP), the local currency shed Rs1.58 or 0.78% to close at Rs202.35 after partially recovering in the last two days.
A day earlier, the local currency gained Rs0.75 or 0.37% against the greenback to close at Rs200.77.
On June 7, the local currency dropped to an all-time low of Rs202.83, surpassing its previous record low of Rs202 registered on May 26.
During the week, caution was witnessed ahead of the unveiling of the federal budget for the fiscal year 2022-23 with investors expecting the International Monetary Fund (IMF) conditions of fiscal consolidation to dominate.
