Rupee extends losses against US dollar in interbank, falls by Rs2

KARACHI: The Pakistani rupee continued to lose its value for the fifth consecutive session, declining by Rs2 against the US dollar in interbank market, ARY News reported on Thursday.

According to the data shared by State Bank of Pakistan (SBP), the rupee closed at 225.88 per dollar, having depreciated 0.89 percent.

Interbank closing #ExchangeRate for todayhttps://t.co/2Du2tsBV8B pic.twitter.com/qe8drDCtN1

— SBP (@StateBank_Pak) September 8, 2022

A day earlier, the US dollar continued its upward trajectory against the rupee despite receiving a loan tranche of US$1.16 billion from the International Monetary Fund (IMF).

According to forex dealers, the US dollar rose by Rs1.08 in the interbank market against the rupee and traded at Rs222.50 while the banks are selling it at Rs222.95.

It is pertinent to mention here that the State Bank of Pakistan confirmed that Pakistan has received a loan tranche of US$1.16 billion from the IMF.

2/2 This will help improve SBP’s foreign exchange reserves and will also facilitate realization of other planned inflows from multilateral and bilateral sources.

— SBP (@StateBank_Pak) August 31, 2022