Rupee gains against US dollar in interbank: SBP

KARACHI: After days of losing streak, the Pakistani rupee Friday gained against the United States (US) dollar in the interbank, ARY NEWS reported quoting figures from the State Bank of Pakistan (SBP).

According to the SBP, the rupee appreciated by 0.04 percent in the interbank against the US dollar after the latter shed seven paisa to close at Rs166.91.

Interbank closing #ExchangeRate for today:https://t.co/32howW6gdf pic.twitter.com/Vc4icJms6Y

— SBP (@StateBank_Pak) September 3, 2021

The Pakistani rupee depreciated 11 paisas against the United States (US) dollar in the inter-bank currency market on Thursday.

According to the State Bank of Pakistan (SBP), the local currency finished at Rs166.98 against the greenback, registering depreciation of 11 paisas over the previous close of Rs166.87.

The economic experts have also termed a rising trend of the imports and purchase of COVID vaccines as the major reasons behind the increase in the value of the greenback.

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The Pakistani rupee had touched an all-time low of 168.43 against the greenback last year in August before recouping some losses to hit a 22-month high of Rs152.95 in April 2021.

The local unit rose by 6.2 percent or Rs10.51 against the US dollar in the currency market during the fiscal year 2020-21 that ended on June 30.