The Pakistan Rupee continued its downward movement against the US Dollar in the currency market on the fourth day of the week.
PKR crossed the Rs. 153 barrier yesterday and further deteriorated today in the interbank currency market against the greenback.
It closed at Rs. 153.46 to the USD at the end of the trading day today (Thursday, April 22) compared to Rs. 153.23 to the USD on Wednesday (April 21). The Rupee went down by 22 paisas against the US Dollar today.
PKR also posted blanket losses against other major currencies in the interbank currency market today after posting almost blanket losses yesterday. PKR has been posting deterioration against most currencies for almost the entire week except yesterday.
Dealers said the rupee has been under pressure for the last few days owing to the persistent demand for the greenback from importers for payments.
PKR deteriorated by 78 paisas against the Euro, by 21 paisas against the Pound Sterling (GBP), by 63 paisas against the Australian Dollar (AUD), and most notably by Rs. 1.05 against the Canadian Dollar (CAD).
The PKR also posted losses of six paisas against both the UAR Dirham (AED) and Saudi Riyal (SAR) in the interbank market today.