Karachi June 16 2022: Pakistan rupee drop against the dollar by rupee 1.24 to in the interbank trading as FED increase policy rate by 75 basis points yesterday.
Pakistan position is more peculiar on IMF program uncertainty and decline in SBP reserves by ~500 million in a week due to significant decline in remittances.
The Rupee lost nearly 0.6% or 1.24 rupee to trade the at 207.7 in the interbank.
Rupee drop for the sixth consecutive day losing almost rupee 7.4 against dollar since 8th June 2022.
In the open market dollar is trading at 209 against the Rupee.
On last trading day, Rupee closes at Rs 206.45 in the interbank market
