KARACHI: The rupee dropped to a five-month low against the US dollar on Thursday, under pressure from import payments.
Forex brokers, according to a storey in The News, predict the local currency to lose additional ground in the coming days.
The rupee closed at 159.33 per dollar on the interbank market, its lowest level since February 09, 2021. During the session, it dropped 41 paisas, or 0.26 percent. On Wednesday, the rupee closed at 158.92.
In the open market, the rupee fell 70 paisas to 160.20 against the greenback. In the previous session, it ended at 159.50.
“In the interbank market, the rupee was trading as low as 159.50 to the dollar,” a currency dealer claimed.