Karachi August 16 2022: Pakistan Rupee drops for the first time after appreciating for the last eleventh consecutive trading session to trade around 215 against dollar in the interbank as outflow in Naya Pakistan Certificates shatter investor confidence.
Naya Pakistan Certificates recorded decline of $472million in the last quarter to below dollar one billion level, according to data published by State Bank of Pakistan. Moreover, Dollar index gains 0.07% in today’s trading to 106.465.
The rupee depreciates by 1.09 rupee in the interbank to trade at 214.99 against dollar. On Tuesday, Dollar closes at 213.90 in the interbank trading after appreciating 0.04 percent in a day.
Pakistan Rupee appreciates more than 12 percent in last 11 trading sessions from its low of 239.94 against dollar hit on 28th July 2022 as country inching closer to IMF deal.
