USD to PKR: Pakistani rupee remains largely stable against US dollar in interbank

KARACHI – As the economic uncertainty looms, the Pakistani rupee remained stable against the US dollar in the inter-bank market on Wednesday.

During the trading, the local currency moved by 0.02 percent during the opening hours. PKR was being traded at 287.20 or Rs0.05 lower.

Earlier this week, the dilapidated rupee faced back-to-back blows for the fifth successive session.

As Sharif-led government is struggling with high import payments, low foreign exchange reserves, and political uncertainty, the overall value of the Pakistani rupee depreciated massively against the greenback in recent times.

Experts flagged high demand and low supply of dollars in the Pakistani economy which is causing huge depreciation.