KARACHI – Pakistan rupee witnessed a slight depreciation against the US dollar in the interbank market on first trading session of the new business week.
Data shared by the State Bank of Pakistan (SBP) showed the local currency declined by 17 paisas to Rs305.64 as compared to last week’s close of Rs305.47.
Interbank closing #ExchangeRate for todayhttps://t.co/JEYlmLEvLb#SBPExchangeRate pic.twitter.com/zB8KyaKm9L
— SBP (@StateBank_Pak) September 4, 2023
Meanwhile, rupee maintained its value against the greenback at Rs328 in the open market.
The development comes as Chief of Army Staff (COAS) Gen Asim Munir in an interaction with business community promised transparency in the exchange rate and bringing currency exchanges into tax net. He assured that money exchanges would be brought under the purview of taxation, fostering transparency in dollar exchange and interbank rates.
Last week, the embattled unit remained under pressure against the greenback and depreciated massively as uncertainty looms large.
Removal of import restrictions created pressure on import payments, and increased demand of greenback while the International Monetary Fund (IMF) condition to maintain a currency gap between interbank and open-market kept the rupee under pressure.
https://en.dailypakistan.com.pk/04-Sep-2023/in-meeting-with-businessmen-pakistan-army-chief-assures-transparency-in-dollar-exchange-rate
