Pakistani rupee loses Rs2.01 against dollar to close at Rs216.66

On Monday, the Pakistani rupee (PKR) remained under pressure to start the week, falling Rs2.01, or 0.93 per cent, versus the US dollar in the interbank market.

The local currency dropped from Friday’s closing rate of Rs214.65 to Monday’s closing rate of Rs216.66 per dollar, according to the State Bank of Pakistan.

The dollar fluctuated between Rs213-214 during the previous week. It ended at Rs214.65 on Friday after ending at Rs213.98 on Monday. Last week, the rupee lost 0.31 per cent of its value against the dollar.

The KSE 100-index of the Pakistan Stock Exchange (PSX), on the other hand, experienced a bearish trend on Monday, shedding 443.99 points, or 1.03 per cent, and finishing at 42,826.66 points as opposed to 43,270.65 points on the last working day.

When compared to the previous trading day, when 306,208,580 shares were traded, a total of 194,667,559 shares were traded on Monday (today). The price of the shares was Rs5.331 billion as opposed to Rs6.393 billion on Friday.