Rupee freefall continues as US dollar hits Rs236.11 in interbank

By Muhammad JuniadPublished On 26 Jan 2023

KARACHI: The rupee’s losses continued on Thursday as the local currency dropped to Rs236.11 against the dollar in the interbank market.

According to forex dealers, the greenback surged by R5.11 against the local currency in the interbank market and was traded at Rs236.11.

The dollar is being sold at Rs236.50 in the interbank market, the forex dealers said.

On the other hand, the dollar is being traded between Rs 242 to 245 in the open market.

On Wednesday, the Pakistani rupee depreciated against the US dollar in the interbank and open markets after the Exchange Companies Association of Pakistan (Ecap) removed an unofficial cap on the exchange rate.

According to forex dealers, the USD was being traded at Rs252.50 in the open market at 12pm against Tuesday’s close of 240.75.