PKR continues to sink unabated against dollar

The Pakistani rupee’s downfall against the US dollar continued for the fifth consecutive session on Thursday with the greenback’s global strengthen and local factors contributing to the depreciation.
The local unit was changing hands at 225.19 after losing 1.69 in the interbank market during the intraday trade, down in value from the previous session’s close of 223.42.
The rupee has cumulatively lost around 6.6 against the dollar since this week’s trade began and is seemingly on the same pattern that was witnessed two months back — when the local unit hit 239.37 on July 28.
The rupee’s depreciation follows a fluctuation in the demand and supply position of the greenback in the currency market.