Dollar reaches Rs158.18 as rupee sheds 31 paisa

Observer Report

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.

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