Pakistani rupee loses further ground against US dollar

KARACHI: The Pakistani rupee continues its downward trend against the United States (US) dollar in the interbank market on third consecutive trading session, ARY News reported on Wednesday quoting SBP.

According to the central bank, the rupee lost Rs 1.84 against the greenback to close at Rs283.38 in the interbank.

In the open market, the US dollar is being sold at Rs292.50, said forex dealers.

On Monday, the rupee had registered back-to-back losses against the dollar to depreciate 0.31% to settle at 287.54.

Interbank closing #ExchangeRate for today https://t.co/PjHweJSRTO#SBPExchangeRate pic.twitter.com/1e2I10Y4Ji

— SBP (@StateBank_Pak) August 1, 2023

Experts attributed the rise in US dollar value to demand- supply pressure in the market.