{"id":4473,"date":"2021-12-03T12:28:27","date_gmt":"2021-12-03T12:28:27","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=4473"},"modified":"2021-12-03T12:28:27","modified_gmt":"2021-12-03T12:28:27","slug":"rupee-continues-to-slide-touches-new-all-time-low","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/latest-news\/rupee-continues-to-slide-touches-new-all-time-low\/","title":{"rendered":"Rupee continues to slide, touches new all-time low"},"content":{"rendered":"<p>KARACHI: The slide of the rupee continued on Friday as the currency dipped to a fresh all-time low at Rs176.77 against the US dollar in the inter-bank market on the back of widening trade deficit and historic high imports.<\/p>\n<p>According to the State Bank of Pakistan (SBP), the local currency had closed at Rs176.42 against the greenback on Thursday.<\/p>\n<p>It is pertinent to mention here that the country reported the highest-ever monthly trade deficit of $5.1 billion during the month of November.<\/p>\n<p>Cumulatively, the currency has shed nearly Rs1.31 during the week. All gains recorded earlier during the week on the back of a deal signed by the State Bank of Pakistan (SBP) and Saudi Fund for Development (SFF) were wiped off later after the country recorded a historic high trade deficit.<\/p>\n<p>The rupee has maintained the downtrend for the past six months. It has lost 16.08% (or Rs24.5) to date, compared to the 22-month high of Rs152.27 recorded on May 14.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Interbank closing <a href=\"https:\/\/twitter.com\/hashtag\/ExchangeRate?src=hash&amp;ref_src=twsrc%5Etfw\">#ExchangeRate<\/a> for today:<a href=\"https:\/\/t.co\/hnK3aQDZqu\">https:\/\/t.co\/hnK3aQDZqu<\/a> <a href=\"https:\/\/t.co\/iTD4MIAtAR\">pic.twitter.com\/iTD4MIAtAR<\/a><\/p>\n<p>&mdash; SBP (@StateBank_Pak) <a href=\"https:\/\/twitter.com\/StateBank_Pak\/status\/1466721386047717379?ref_src=twsrc%5Etfw\">December 3, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>With a fresh decline of 0.20%, the rupee has depreciated by 12.20% (or Rs19.23) since the start of the current fiscal year on July 1, 2021, data released by the central bank revealed.<\/p>\n<p><em><strong>Read more:\u00a0<a href=\"https:\/\/dailyausaf.com\/en\/pakistan\/pm-imran-khan-directs-authorities-to-expedite-ehsaas-ration-program.html\" target=\"_blank\" rel=\"noopener noreferrer\">PM Imran Khan directs authorities to expedite Ehsaas Ration Program<\/a><\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>KARACHI: The slide of the rupee continued on Friday as the currency dipped to a fresh all-time low at Rs176.77 against the US dollar in the inter-bank market on the back of widening trade deficit and historic high imports. According to the State Bank of Pakistan (SBP), the local currency had closed at Rs176.42 against [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":2884,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,9],"tags":[2960,572,599,183,273],"class_list":["post-4473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-latest-news","tag-saudi-fund-for-development","tag-sbp","tag-state-bank-of-pakistan","tag-pm-imran-khan","tag-pti-government"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/4473","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=4473"}],"version-history":[{"count":0,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/4473\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/2884"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=4473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=4473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=4473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}