KARACHI, Sep 13(ABC): The Pakistani rupee continued to slide for the eighth straight session against the US dollar on Tuesday as cataclysmic floods and continuous political instability forced the local unit to depreciate.
In the interbank market, the local unit fell by Rs2.1 to Rs231.92, down in value from yesterday’s close of Rs229.82 — when it lost Rs1.62. The rupee also lost Rs9.21 or 4.2% against the greenback cumulatively last week.
Traders have said the Pakistani rupee is expected to continue depreciation against the greenback during the ongoing week as no clear strategy to turn around the economy is driving away investors.