ISLAMABAD, Jul 23 (NNN-APP) – Breaking all previous records, amid economic challenges, the Pakistani rupee fell to a new low of above 228 rupees yesterday, against the U.S. dollar, in the interbank market, according to the State Bank of Pakistan (SBP).
The rupee closed at 228.37, depreciating 0.68 percent against the greenback, showed the SBP figures.
The downward trend continued from Monday, after the exchange rate rose to a record high of 215.20 rupees, peaked at 221.99 rupees on Tuesday, surpassed 224.92 rupees on Wednesday and reached 226.81 rupees on Thursday.
Earlier on Thursday, a cabinet meeting, chaired by Prime Minister, Shahbaz Sharif, discussed the recent fall in the rupee value, in the interbank market.
The meeting was informed by the officials that, all necessary steps were being taken, to appreciate the value of the rupee, hoping that the Pakistani currency would be stabilised against the U.S. dollar, next month.– NNN-APP
