Pakistani rupee weakens further
- By Web Desk -
- Dec 22, 2021
KARACHI: The Pakistani rupee lost more ground against the United States (US) dollar in the interbank currency market on Wednesday.
According to the State Bank of Pakistan (SBP), the domestic unit closed at Rs178.15 against the greenback, depreciating 10 paisas compared to the previous close of Rs178.05.
Interbank closing #ExchangeRate for today:https://t.co/nmNRlAtZK8 pic.twitter.com/aeHvwWrxz6
— SBP (@StateBank_Pak) December 22, 2021
Last week, the State Bank of Pakistan (SBP) tightened the rules governing the sale and purchase of foreign exchange in an effort to discourage “speculative” buying and selling of the US dollar.
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According to a notification issued by the central bank, all exchange companies will have to ensure that no individual purchases foreign exchange of more than $10,000 per day and $100,000 (or equivalent in other currencies) per calendar year, in the form of cash or
outward remittances.