Tuesday, October 26, 2021

Rupee weakens against US dollar

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KARACHI: The Pakistani rupee depreciated 16 paisas against the United States (US) dollar in the inter-bank currency market on Wedensday.

According to the State Bank of Pakistan (SBP), the rupee closed at Rs168.68 against the greenback, registering depreciation of 16 paisas over the previous close of Rs168.52.

The rupee appreciated Rs1.52 against the US dollar in the interbank market on Sept 16, Thursday, a day after touching an all-time low of Rs169.12. The rupee recovered some losses after the intervention of the central bank.

The value of the US dollar has soared by Rs16.67 during the last four months.

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.

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