Rupee continues to recover against US dollar
- By Web Desk -
- Jan 31, 2022
KARACHI: The Pakistani rupee continued to recover against the United States (US) dollar in the interbank currency market on Monday.
According to the data shared by the State Bank of Pakistan (SBP), the domestic currency closed at Rs176.72 against the greenback, showing appreciation of five paisas over the previous close of Rs176.77.
Interbank closing #ExchangeRate for today: https://t.co/ia1EB0ZOb7 pic.twitter.com/skBkWepltb
— SBP (@StateBank_Pak) January 31, 2022
The Pakistani Rupee declined by almost 12 per cent last year. The dollar flight continued despite multiple measures taken by the State Bank of Pakistan (SBP) to stabilise the exchange rate.
Also Read: Pakistan to borrow $5bn from China, Russia, Kazakhstan: sources
The Federal Investigation Agency (FIA) is also continuously clamping down on hoarders and smugglers to restrict the outflow of the dollar in a bid to ease its demand.