The Pakistani Rupee (PKR) lost 42 paisas against the US dollar (USD) today (August 31) and closed at Rs. 166.39.
The PKR depreciated by 0.25 percent from yesterday’s rate of Rs. 165.96 against the dollar in the interbank currency market.
Last week, the currency crossed the Rs. 166 mark. However, in the following days, PKR recovered somewhat and closed at Rs. 165.62 to the USD on August 27.
Pakistan’s total debt and liabilities surged to Rs. 47.829 trillion at the end of FY 2021, according to data released by the State Bank of Pakistan. SBP data also showed that the National Savings Schemes (NSS) outflows exceeded inflows for the first time in 16 years, with net savings at a negative Rs 317.2 billion in FY 2021.
The Rupee also depreciated against other major currencies today. It lost 96 paisas against the Euro, 81 paisas against the Pound Sterling (GBP), and 68 paisas and 92 paisas each against the Canadian Dollar (CAD) and the Australian Dollar (AUD), respectively.
PKR also posted losses of 11 paisas against both the Saudi Riyal (SAR) and the United Arab Emirates Dirham (AED).