PKR slides by Rs1.07 in interbank

The rupee, which has been falling against the dollar since Sept 2, lost another Rs1.07 in the interbank market on Monday. The PKR closed at Rs237.91 per dollar — a depreciation of 0.45 per cent, according to the State Bank of Pakistan. Saad bin Naseer, director of financial data and analytics portal Mettis Global, said the decline was reflective of the overall demand and supply situation in the market. The rupee did not react to news of the Saudi Fund for Development rolling over a $3 billion deposit for a year because the development “did not improve the liquidity of the dollar in the market”, he added.