Rupee inches up against US dollar
- By Web Desk -
- Feb 02, 2022
KARACHI: The Pakistani rupee continued to recoup losses against the United States (US) dollar in the interbank currency market on Wednesday.
According to the data shared by the State Bank of Pakistan (SBP), the domestic currency closed at Rs176.41 against the greenback, showing appreciation of two paisas over the previous close of Rs176.43.
Interbank closing #ExchangeRate for today: https://t.co/QdcARhAOln pic.twitter.com/0KAKTuNu9h
— SBP (@StateBank_Pak) February 2, 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: IMF executive board to hold sixth review of Pakistan economy today
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.