Pak rupee losses 62 paisa or 0.39 percent against US dollar on Monday and closed at 157.51 against Friday’s closing of PKR 156.89.
PKR closed at lowest level since March 02, 2021. The currency has weakened against US dollar due to rising import bill. Imports during first 11 months of current fiscal year has increased by 22.5 percent to USD 50.05 billion.
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Current account balance is expected to turns in to negative for 11 months of current fiscal year, 10 months’ current balance is USD 773 million
During June 2021, PKR has strengthened against British Pound and Euro, 1.23 percent and 1.32 percent, respectively. While PKR has also weakened against UAE Dirham and Japanese’s Yen, 1.59 percent and 1.10 percent, respectively.
During June 2021, Pak rupee has lost 3.11 or 1.98 percent.