Rupee weakens against dollar

KARACHI: The Pakistani rupee weakened against the United States (US) dollar as it depreciated by five paisa on the first trading day of week (Monday).

According to the State Bank of Pakistan (SBP), the dollar today closed at Rs160.80 against the local currency as compared to Friday’s closing rate of Rs160.75. The rupee recorded a 0.03 per cent depreciation in its value.

Interbank closing #ExchangeRate for today: https://t.co/tQkBbJdRmI pic.twitter.com/7PBE3uPyTg

— SBP (@StateBank_Pak) January 25, 2021

Last year in November, the rupee had hit a seven-month high of Rs158.70 against the dollar, becoming the third best-performing currency in Asia. The local unit had cumulatively appreciated by Rs9.73 or 3.1 per cent against the greenback since touching an all-time low of Rs168.43 in August last.