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Wednesday, September 28, 2022
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Rupee registers losses for 15th consecutive session against dollar

The Pakistani currency registered losses for the fifteenth session in a row as the US dollar approached a record high.

On Thursday, the rupee decreased in value from the interbank market’s close of 239.65, to 239.71.

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The rupee is currently just Rs0.23 away from reaching an all-time low of Rs239.94 on July 28, 2022.

Due to a number of factors and circumstances, the rupee has been one of the worst-performing currencies in emerging markets and has fallen by about 9% so far this month.

The rupee was momentarily strengthened in late August by the revival of the International Monetary Fund (IMF) bailout program and the release of a $1.1 billion loan tranche from the Fund last month.

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The Pakistani currency is once again struggling to perform despite the IMF loan.

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