Friday, May 27, 2022

US dollar weakens against Pakistani rupee


KARACHI: The United States (US) dollar weakened against the Pakistani rupee in the interbank market on the first trading day of the week.

According to the data shared by the State Bank of Pakistan (SBP), the greenback closed at Rs175.92 against the domestic currency on Monday, showing depreciation of 15 paisas over the previous close of Rs176.07.

On Friday, the dollar had weaker higher by 31 paisas at Rs176.07 against the rupee in the interbank market.

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The Pakistani Rupee declined by almost 12 per cent last year. The dollar flight continued despite multiple measures taken by the State Bank of Pakistan (SBP) to stabilise the exchange rate.

Federal Investigation Agency (FIA) is also continuously clamping down on hoarders and smugglers to restrict the outflow of the dollar in a bid to ease its demand.


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