Karachi (Web Desk): Downward trend persists in the value of Pakistani rupee against the US dollar on Tuesday.
According to the State Bank of Pakistan (SBP), the local currency closed at Rs238.91 per dollar, losing another Rs1 against the dollar in the interbank market. This equates to a depreciation of 0.42 per cent from yesterday’s close of Rs237.91, bringing the PKR near the all-time low of Rs239.94 on July 28.
The open market is also facing a dearth of the US currency. Analysts said, “Floods are adding more pressure on PKR due to expectedly higher imports ahead on account of agriculture and food due to massive devastation of essential crops.”