Rupee registers marginal loss against US dollar in interbank

KARACHI: The Pakistani rupee has registered a marginal decline of Rs0.50 against US dollar in the interbank market, extending its losses for second consecutive session, ARY News reported on Thursday.

According to State Bank of Pakistan (SBP), the local currency closed at Rs218.38 after losing Rs0.50 against the greenback in the interbank market.

Meanwhile, the Forex Association of Pakistan (FAP) stated that the banks were selling US dollar at Rs218.78. In the open market, the greenback was being traded between Rs220 to Rs222.

This is the second time, the rupee has registered a loss in its value after Federal Finance Minister Ishaq Dar’s return to office. The local currency appreciated by almost Rs22, or 10.1 per cent, against the greenback in the last 13 sessions.

Earlier, Federal Minister For Finance and Revenue Ishaq Dar vowed to bring back Pakistani rupee at its original value which is less than 200 against US dollar. “I can genuinely prove that dollar’s actual value is below Rs200,” he added.