Federal Budget

Pakistani rupee's depreciation against US dollar continues

The currency closed at Rs207.67 on Wednesday.

KARACHI (Dunya News) - The Pakistani rupee continued its downward slide against the US dollar as it depreciated by 1.21 rupees in the interbank market on Thursday.

The local currency closed Rs207.67. In open market, the dollar gained Re1 and was being traded at Rs208.5.

The appreciation in value of the greenback has increase debt burden on the country by Rs3000 billion. According to the State Bank of Pakistan (SBP), the currency closed at Rs206.46 on Wednesday.

As per experts, economic uncertainty, delay in IMF tranche and increasing current account deficit are behind depreciation of the local currency.