Rupee free fall continues against dollar as pressure on currency persists

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 Rupee free fall continues against dollar as pressure on currency persists



KARACHI: The Pakistani rupee's free fall continued against the US dollar Friday as the local unit remained under pressure in the interbank market due to wide-ranging factors.

Following its week-long depreciation trend, the rupee closed at 220.6 against the dollar after losing 1.25 or 0.57%, up from yesterday's close of 219.41.

Cumulatively, the local unit lost 6.01 against the greenback during the week ended August 26 as it depreciated in all five trading sessions. 

Analysts and experts have said that the rupee will continue to slide till the International Monetary Fund (IMF) disburses Pakistan's $1.17 billion tranche in its executive board meeting on August 29

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