{"id":15244,"date":"2023-04-04T17:06:50","date_gmt":"2023-04-04T17:06:50","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=15244"},"modified":"2023-04-04T17:06:50","modified_gmt":"2023-04-04T17:06:50","slug":"rupee-sinks-further-falls-to-new-low-against-us-dollar","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/rupee-sinks-further-falls-to-new-low-against-us-dollar\/","title":{"rendered":"Rupee sinks further, falls to new low against US dollar"},"content":{"rendered":"<p>Rupee sinks further, falls to new low against US dollar. Pakistani rupee touched a record low on Tuesday as the country struggles to unlock critical <a href=\"https:\/\/www.imf.org\/en\/Home\">International Monetary Fund<\/a> (IMF) funding while dwindling foreign exchange reserves become another source of concern for investors.<\/p>\n<p>The local unit, in the interbank market, closed at 287.29 against the US dollar, 0.78%, or Rs2.25, down from Monday\u2019s close of 285.04.<\/p>\n<p>Last month, the rupee hit a record low, closing at Rs285.09 per US dollar on March 2, 2023, the data released by the State Bank of Pakistan (SBP) showed.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.geo.tv\/assets\/uploads\/updates\/2023-04-04\/480240_635073_updates.jpg\" alt=\"A trend curve of rupee-dollar parity. \u2014 Arif Habib Limited\" \/><\/p>\n<p>Financial pundits believe that importers have resumed the panic buying of US dollars, while the supply of foreign currency remained low in the interbank market.<\/p>\n<p><em><strong>Read more:\u00a0<a href=\"https:\/\/dailyausaf.com\/en\/business\/rupee-tumbles-by-nearly-rs19-against-dollar-in-interbank-amid-imf-delays.html\">Rupee tumbles by nearly Rs19 against dollar in interbank amid IMF delays<\/a><\/strong><\/em><\/p>\n<p>Pakistan\u2019s loan programme is yet to materialise months after it raised taxes and energy prices and allowed the currency to depreciate to meet IMF\u2019s conditions. The nation has missed multiple deadlines to resume its bailout.<\/p>\n<p>The cash-strapped nation secured a $6 billion IMF bailout in 2019. It was topped up with another $1 billion last year to help the country following devastating floods, but the IMF then suspended disbursements in November due to Pakistan&#8217;s failure to make more progress on fiscal consolidation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rupee sinks further, falls to new low against US dollar. Pakistani rupee touched a record low on Tuesday as the country struggles to unlock critical International Monetary Fund (IMF) funding while dwindling foreign exchange reserves become another source of concern for investors. The local unit, in the interbank market, closed at 287.29 against the US [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":14461,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[443,1247,6320,572,160,138],"class_list":["post-15244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-dollar","tag-international-monetary-fund","tag-rupee","tag-sbp","tag-imf","tag-pakistan"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/15244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=15244"}],"version-history":[{"count":0,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/15244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/14461"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=15244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=15244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=15244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}