Rupee rally continues against US dollar
- By Web Desk -
- Feb 01, 2022
KARACHI: The Pakistani rupee continued its rally against the United States (US) dollar in the interbank currency market on Tuesday.
According to the data shared by the State Bank of Pakistan (SBP), the domestic currency closed at Rs176.43 against the greenback, showing appreciation of 29 paisas over the previous close of Rs176.72.
Interbank closing #ExchangeRate for today: https://t.co/J1HXYhD43D pic.twitter.com/RfDBTXfexm
— SBP (@StateBank_Pak) February 1, 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.
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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.