Rupee weakens against US dollar
KARACHI: The Pakistani rupee depreciated 23 paisas against the United States (US) dollar in the inter-bank currency market on Thursday.
According to the State Bank of Pakistan (SBP), the local currency closed at Rs155.92 against the greenback, registering depreciation of 23 paisas (-0.15%) over previous close of Rs155.69.
— SBP (@StateBank_Pak) June 10, 2021
The rupee has recovered more than Rs14 during the last ten months since it touched an all-time low of Rs168.43 last year in August.
The local unit has gained considerable ground on the back of improved foreign exchange reserves, current account surplus, higher remittances besides less demand of dollar due to the ongoing pandemic.