The Pakistani rupee’s losses widened as it slowed from the rapid climb of reaching its “real value,” rising to Rs221.30 during trading on Thursday in the interbank market.
The rupee has been losing value for seven straight days as of Thursday. The rupee, which began the week at Rs218.89, has so far lost about Rs1.98, and on Wednesday in the interbank market, it fell from Rs218.89 to Rs220.88.
The rupee’s 18-day winning streak, which gained about Rs219.92, was broken by the recent losing streak. The dollar had dropped to Rs217.79 on September 23, 2022, before rising to a high of Rs239.74.
The value of the rupee increased to Rs225.45 on the open market from Rs2.55 versus the US dollar. On Thursday, the value of the rupee increased from Rs228 to Rs225.45.