KARACHI: On Friday, the Pakistani rupee lost momentum and fell 0.17% to settle at 218.98 against the US dollar in the interbank market as a result of worries over the expanding trade imbalance and escalating inflation.
rupee’s
According to State Bank of Pakistan (SBP) data, the local currency lost 0.38 rupees and finished at 218.98, down from 218.60 the previous day.The International Monetary Fund’s (IMF) contributions and the optimistic development led to the rupee’s strengthening versus the dollar.
But in August 2022, multi-year high inflation based on the consumer price index (CPI) and local economic headwinds put an end to the rebound.
