Rupee depreciates for fourth consecutive day against US dollar
Pakistani rupee couldn’t stop extending losses even after the State Bank governor and ECAP chairman held an important meeting to examine the reasons for the increase in the value of the US dollar.
In the interbank market, the greenback rose by Rs0.05 to Rs222 during early trading on Friday.
Losing by 52 paisas, the value of rupee fell from Rs221.43 of Wednesday’s value to Rs221.95 on Thursday.
The rupee has so far registered a decline of Rs1.35 in the past three days.
As of Thursday, the rupee saw its value erode by another 50 paisas as the cost of a US dollar jumped to Rs228 in the open market,