The Pakistani rupee (PKR) has shed 1.61 rupees in early trade after enduring a hard patch amid worsening macroeconomic indicators.

The ongoing rise in the value of the dollar against the Pakistani rupee has exacerbated the economic situation. Since the introduction of the new government, the interbank rate has increased by Rs17.07.

Depleting foreign exchange reserves and uncertainties over the resumption of the International Monetary Fund (IMF) programme are weighing on the local currency.

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