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Pakistani Rupee Falls From 225.42 to 228.18 by 1.21% in Single Day

The Pakistani rupee continued its downward slide for the sixth straight session, The report came to a down by 2.8% and was Recorded as 228.18 in the single day falling 0.68% against the dollar on Friday, taking its decline this week to nearly 8% and for the year to over 21%, according to central bank data.

The annual performance is worse than nearly any other currency, bar Sri Lanka's rupee, and Ukraine's hryvnia.

The slide has deepened an already difficult economic crisis, as Pakistan struggles with depleting foreign currency reserves and a current account deficit.

Interbank rates hit a historic intra-day low before recovering slightly to 228.37 Pakistani rupees to the dollar from 226.81 rupees on Thursday. It was at 210.95 rupees to the dollar when trading opened on the first trading day of the week, Monday and at 178.16 at the start of 2022.

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