KARACHI – Pakistani rupee on Monday depreciated by Rs1.36 against the US dollar in the interbank trading to close at Rs297.13.
The State Bank of Pakistan (SBP), in a statement shared on social media platform X, said the local currency dropped by 0.45 percent against the greenback.
Meanwhile, the buying and selling rates of the dollar in the open market closed at Rs305 and Rs308, respectively.
Interbank closing #ExchangeRate for today https://t.co/06ebUn3yum#SBPExchangeRate pic.twitter.com/A8hyc0EJDw
— SBP (@StateBank_Pak) August 21, 2023
Last week, the local currency saw a back to back blows and plunged to 295.78 against the greenback, its lowest since May 11.
The embattled rupee is likely to remain under pressure against dollar in the coming days amid huge demand for foreign currency, primarily driven by the need to clear backlog consignments as the government ended all import curbs.
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