Karachi (HRNW) The PKR continued to lose its value for the fifth consecutive session on Friday, falling by Rs1.25 against the dollar in the interbank market.
The local currency closed at Rs220.66 per dollar, having depreciated 0.57 per cent.
Forex Association of Pakistan (FAP) Chairperson Malik Bostan said the dollar’s value had risen because of pending oil payments and demand for the greenback by commercial importers.
The International Monetary Fund’s (IMF) Executive Board would approve the loan tranche for Pakistan next week, after which the pressure on the rupee would ease, he said.