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Tuesday, December 24, 2024

Home Pakistan Pakistani rupee faces more losses against US dollar in interbank market

Pakistani rupee faces more losses against US dollar in interbank market

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KARACHI – Pakistani rupee continues to remain under pressure in interbank market, declining 0.16 percent on Monday.

Data shared by State Bank suggest that the local currency moved down by Rs0.46, and settled at 287.43.

Interbank closing #ExchangeRate for today https://t.co/dm2kl75pFa #SBPExchangeRate pic.twitter.com/UWhO6CvsxR

— SBP (@StateBank_Pak) August 7, 2023

The rupee followed the same suit of the previous week, losing its value more. In the back to back sessions, rupee lost almost 0.18 percent and closed at 286.97 against the greenback.

Rupee faced several blows in interbank, and open market as demand for dollar surged as Pakistani authorities ended all restrictions on imports.

In a recent development, the central bank allowed exchange companies to import US Dollars.