Rupee continues to weaken against US dollar
- By admaster -
- Jun 16, 2021
KARACHI: The Pakistani rupee depreciated 17 paisas against the United States (US) dollar in the interbank currency market on Wednesday.
According to the State Bank of Pakistan (SBP), the local unit closed at Rs156.96 against the greenback, registering depreciation of 17 paisas over previous close of Rs156.79.
Interbank closing #ExchangeRate for today:https://t.co/cgPWzU01YI pic.twitter.com/414bWvCzic
— SBP (@StateBank_Pak) June 16, 2021
The rupee has recovered more than Rs12 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.