KARACHI: The Pakistani rupee lost ground for the seventh sequential meeting on Monday, closing at an untouched high of 237 against the US dollar in the interbank market as bad opinion emerging from Pakistan’s political front continued.
Report
According to data by the State Bank of Pakistan (SBP), the Rupee closed at 237 against the US dollar — surpassing its last record low of 232.93 against the greenback after a fresh decline of Rs4.07 (1.7%).
Fears have ascended about Pakistan’s stuttering economy as its currency fell almost 8% against the US dollar in the last exchanging week, while the country’s forex saves stand beneath $10 billion with expansion at the most elevated in over 10 years.