Dollar falls by Rs4.15 against rupee in interbank

KARACHI: The US dollar extended its losses against the Pakistani rupee, as the greenback depreciated by Rs4.15 in the interbank on Monday, ARY News reported.

According to the forex dealers, the local currency gained Rs4.15 against the US dollar in the interbank market. Currently, the dollar is being sold at Rs236 by the banks, while the same is being sold at Rs238 to 240 in the open market.

It may be noted that yesterday, Miftah Ismail resigned as finance minister and the PML-N huddle held in London with Nawaz Sharif in the chair nominated Ishaq Dar as the next finance minister of the coalition government.

Read more: Miftah Ismail confirms ‘verbal resignation’ as finance minister

The Pakistani rupee has declined by Rs56.72 against the United States (US) dollar in the first six months of Prime Minister Shehbaz Sharif-led coalition government.

According to a report by currency dealers, the rupee witnessed massive depreciation from Rs 178 against the US dollar in April 2022 to Rs 239.65 in September 2022, a decline of Rs56.72 over the past 6 months.