ISLAMABAD, Jan 31 (NNN-APP) – The Pakistani rupee continued a sharp downward trajectory against the U.S. dollar, as the greenback was traded at a record high price of 269.63 rupees in the interbank market yesterday, according to the State Bank of Pakistan (SBP).
The U.S. dollar closed at 262.6 rupees on Friday. On the first working day of the week, the local currency depreciated by 7.03 rupees, or about 2.61 percent, against the U.S. dollar, official figures showed.
Over the last week, the rupee went through a depreciation of around 12.5 percent. The major fall came through on Thursday and Friday, in the last two sessions of the week.
Cumulatively, with yesterday’s decline, the local currency has depreciated 14 percent across just three sessions.– NNN-APP
