Rupee falls by 0.21% against US dollar

The Pakistani Rupee on Monday dropped by 0.21% against the US Dollar to settle at Rs218.89 in the interbank market, ARY News reported. 

Interbank closing #ExchangeRate for todayhttps://t.co/F0H8TxTY27 pic.twitter.com/j9KWtyy9GM

— SBP (@StateBank_Pak) October 17, 2022

While in the open market the local currency gained by Rs0.30.

According to details, the PKR devalued by Rs0.46, going up from Rs218.43 to Rs218.89. While in the open market the local currency gained by Rs0.30 and sold at Rs225.70.

PKR closed at Rs226 in the open market on Friday.

On October 14, according to forex dealers, the greenback sold between Rs223 to 225 in the open market. In the interbank, the US dollar gained 10 paisas against the Pakistani rupee and was traded at Rs218.48.

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The banks sold USD for Rs218.90, the forex dealers said. After continued depreciation, the US dollar is recouping the losses against the PKR.