Rupee falls 41 paisas against dollar

Web Desk

09th Sep, 2021. 05:00 pm
Rupee weakens

KARACHI: The rupee ended down 41 paisas against the dollar on Thursday, despite the government’s announcement to trade with Afghanistan in the local currency, dealers said.

The exchange rate ended at Rs167.66 against the dollar from the previous day’s closing of Rs167.25 in the interbank foreign exchange market.

The currency dealers said the dollar demand remained high during the day for import and corporate payments. They said the dollar outflows to Afghanistan was also a big concern for the rupee stability.

However, to address the Afghan trade problem, the Pakistan government has decided to trade Afghanistan in the rupee.

The rupee recorded losses in its value since the start of the current fiscal year. It has lost around Rs10.12 against the dollar since July 1, 2021.

The dealers said the external payments kept the exchange rate under pressure during the current fiscal year. The rupee is near to an all-time low of Rs168.44 against the greenback, which was recorded on August 26, 2020.

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