KARACHI – The Pakistan rupee remained under pressure on last trading session of the running business week as it dropped by 86 paisas against the US dollar in interbank market.
Data released by the State Bank of Pakistan (SBP) on social media platform X, formerly Twitter, shows the local currency declined by 0.29 percent to Rs295.78 as compared to previous day’s Rs294.92.
Interbank closing #ExchangeRate for today https://t.co/EQAQL5zTC2#SBPExchangeRate pic.twitter.com/tJozChlO2l
— SBP (@StateBank_Pak) August 18, 2023
The green back was traded in the open market above Rs300 as demand for the foreign currency has surged following the withdrawal of import restrictions.
On Thursday, the negative trajectory of the Pakistani rupee against US dollar came to a halt after multiple losses, as the currency remained largely stable on Thursday.
Data shared by State Bank of Pakistan suggest that rupee settled at 294.92, with an increase of Rs0.01.
