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Rupee tumbles historic down against USD

Lahore, Sep. 27— Pakistan's rupee took a historic dip against the US dollar Monday in inter-bank market, closing at 169.6, thrashing down level it registered just earlier this month.Rupee edged near all-time low against the dollar, which last time, had lost its ground at 169.12 on September 15, this year, lowest level at that interval , before a minor recovery began.According to State Bank of Pakistan (SBP), the PKR closed at 169.60 against the USD, a decline of 52 paisas or 0.31% on Monday.Development raises further concerns over the demand-side pressure that has already seen the currency lose over 10% since its recent high in May 2021. In the past four months, the rupee has been under pressure amid concerns over import payments and the...

September 27, 2021 at 6:32 pm | Economic Affairs