Rupee’s slight recovery brings USD below 167mark

14
Karachi

Pakistani rupee snapped the four-day losing streak against the US dollar on Friday and recovered 7 paisas (+0.04 percent) in the interbank on Friday.

According to the State Bank of Pakistan, the US dollar opened at Rs166.98and closed at Rs166.91. The US dollar reached Rs167.20 during early day trading; however, the supply of the greenback dur-ing the day helped the rupee make gains.

The mar-ket witnessed the supply of the dollars in the shape of workers’ remittances and export receipts. Within the open market, the rupee was traded at Rs167/168 per dollar.

Overall, Pakistani rupee shed Rs1.29 against the US dollar during this week, while depreciation during the fiscal year 2021-22 has been Rs9.55. —TLTP

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