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Rupee depreciates further in interbank

by Pakistan News
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KARACHI: The Pakistani rupee lost further ground amid a deepening political crisis in the country and was traded at 236.50 to a dollar in the interbank market during intraday trade on Wednesday.

The local unit lost Rs3.57 today – the first trading session after the Supreme Court removed PML-N Hamza Shahbaz as chief minister of Punjab, dealing a massive blow to the Shahbaz Sharif government in the Centre.

The rupee had closed at Rs232.93 a day ago. The rupee has been one of the world’s worst-performing currencies, slumping more than 30% since the start of the year (2022).

More to follow…

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