Pakistani rupee snapped the losing streak against the US dollar after two days on Wednesday and recovered 38 paisas (+0.23 percent) in the interbank.
According to the State Bank of Pakistan, the US dollar opened at Rs167.63and closed at Rs167.25. Within the open market, the rupee was traded at Rs167.25/168.20 per dollar.
Overall, Pakistani rupee shed Rs0.34 against the US dollar during the last three days, while depreciation during the fiscal year 2021-22 has been Rs9.89. The local unit has shed Rs7.06 against the US dollar in the current year 2021.
According to currency experts, the rupee is under immense pressure due to unfavourable macro economic data and Afghanistan’s situation. —TLTP