Observer Report Karachi
Pakistan rupee depreciated against the US dollar in the interbank on the first trading session of the week on Monday and shed 31 paisas (-0.20 percent).
According to the State Bank of Pakistan, the US dollar opened atRs157.87 and closed at Rs158.18. Within the open market, the US dollar was traded at 157.70/158.50.
Pakistani rupee shed 25 paisas against the US dollar during the last week. However, the local unit has gained Rs9.86 against the greenback in the current fiscal year 2020-21 while appreciation has been Rs1.96 in 2021.
The currency experts said that the rupee remained under pressure because the market opened after a closure of two days due to the weekend.