Pakistani rupee ends weaker as US dollar flight continues
- By Web Desk -
- Dec 29, 2021
KARACHI: The Pakistani rupee ended weaker by five paisas as the flight of the United States (US) dollar continued in the interbank market on Wednesday.
The domestic currency closed at Rs178.24 against the greenback, according to the data shared by the State Bank of Pakistan (SBP).
The rupee recorded depreciation of five paisas compared to the previous close of Rs178.24.
Interbank closing #ExchangeRate for today: https://t.co/XjchCE1SmZ pic.twitter.com/ikcZCAZ0Iz
— SBP (@StateBank_Pak) December 29, 2021
The local unit has declined by 12 per cent since the start of the year 2021.
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The State Bank has taken various measures to stabilise the exchange rate and the FIA is continuously clamping down on hoarders and smugglers to restrict the outflow of the dollar in a bid to ease its demand, but the dollar continues to rise.