Islamabad : The Pakistani rupee (PKR) has continued a speedy crash against the US dollar with another big fall as the greenback was traded at a record high price of 276.58 PKR in the interbank market, the central bank announced.
According to the State Bank of Pakistan (SBP), the latest fall came during trading on Friday, reports Xinhua news agency.
The US dollar closed at 271.36 PKR on Thursday.
On the last working day of the week, the local currency depreciated by 5.22 PKR, or about 1.89 per cent, against the US dollar, official figures showed.
Talking to Xinhua, Reza Baqir, former governor of the SBP, said that depleting foreign exchange reserves of the country, along with the fall in exports and decline in remittances from overseas Pakistanis, is directly influencing the foreign reserves and eventually the value of the rupee.
Baqir said that all these factors as well as the global recession is contributing to negative sentiments and uncertainty in the market, which resulted in the free fall of the local currency.
–IANS
Rs 2,438 cr TN ponzi scam: Scanner on TN film producer
Chennai: The Tamil Nadu Economic Offences Wing (EOW), probing the Rs 2,438 crore Aarudhra gold trading scam, has got certain inputs that film director-turned producer R.K. Suresh is linked to...
11 killed in stampede during ration distribution in Karachi
Karachi: At least 11 people died while several others were injured in a stampede inside the premises of a factory at the Naurus intersection in Karachi's SITE area on Friday,...
Male home nurse arrested for sexually abusing elderly patient in K’taka
Dakshina Kannada: Karnataka police have arrested a male home nurse on charges of sexually harassing an aged patient in Mudubidare town of Dakshina Kannada district in Karnataka, police said on...
Right-wing Hindu Americans now seek to stop California from banning caste bias
Washington: After failing to prevent the city of Seattle from outlawing caste-based discrimination, right-wing Hindu Americans are girding up to stop the state of California from going down that route. The...
Indian-origin robotics engineer to head NASA’s new Moon to Mars office
Washington: Indian-origin software and robotics engineer, Amit Kshatriya has been appointed as first head of NASA's new Moon to Mars Programme Office at the agency's headquarters in Washington. The new...
Bihar JD-U MLA finds CHC staff drying wheat on hospital beds
Patna: JDU MLA from Valmiki Nagar of Bihar's Pashchim Champaran district, Dhirendra Pratap Singh alias Rinku Singh, exposed the "mismanagement" at a Community Health Centre (CHC) in his constituency. The...
Attempts of religious conversion hinder country’s development: Indresh Kumar
New Delhi: Senior RSS leader Indresh Kumar has said that interference in someone else's religion or attempts to convert someone hinders the country's development and harmony. Speaking as the chief...
Godse’s picture displayed during Shobha Yatra in Hyderabad
Hyderabad, March 30 (IANS) A portrait of Mahatma Gandhi's assassin Nathuram Godse was displayed during a Ram Navami procession led by suspended BJP MLA T. Raja Singh here on Thursday....
Defamation case: Patna court summons Rahul Gandhi on April 12
Patna: Congress leader Rahul Gandhi has been summoned by Patna MP-MLA court on April 12 to record his statement on a petition filed by BJP senior leader and Rajya Sabha...
Spouses of H-1B Visa holders in tech sector can work in US: Judge
New York: In an immigration-friendly move, a judge has ruled that spouses of highly-skilled H-1B visa holders in tech sector can now work in the US, thus upholding an Obama-era...
US Senate passes bill to end national Covid emergency
Washington: The US Senate has passed a bill to end the national Covid-19 emergency which was declared by former President Donald Trump on March 13, 2020. The 68-23 vote on...
Stampedes across Pakistan for free flour
Islamabad: A woman and a man died and several others were injured in stampedes at flour distribution points in different cities of Pakistan. People staged protests against the government for...
