Rupee falls to 169.6 against dollar

ISLAMABAD: Pakistani rupee continued struggling against the US dollar in the inter-bank for the fourth consecutive session and set an all-time low of Rs169.60.

According to the State Bank of Pakistan, the local unit depreciated by 52 paisas (-0.31 per cent) against the greenback, as the US dollar opened at Rs169.08 and closed at Rs169.60. Within the open market, the rupee was traded at Rs170.50/171.50 per dollar.

The Pakistani rupee shed Rs0.91 during the last week against the US dollar, while depreciation during the fiscal year 2021-22 has been Rs12.18. The local unit has shed Rs9.33 against the US dollar in the current year 2021.

The local currency has maintained a downtrend after it touched a 22-month high of Rs152.27 in May 2021, losing a cumulative Rs17.29 in the past four months to date. Earlier, the rupee made a historic low of Rs169.12 on September 15 last against the dollar.

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