The rupee depreciates by Rs1.97 against the dollar in the interbank market

 

The rupee depreciates by Rs1.97 against the dollar in the interbank market

Following a significant recovery the previous day, the Pakistani rupee experienced a decline against the US dollar, depreciating by 0.71 percent during Wednesday's trading session. The currency concluded the day at 277.41, marking a decrease of Rs1.97, according to the State Bank of Pakistan (SBP).

On the third day of the business week, the dollar resumed its rapid ascent and ended at Rs277.41 in the interbank market, registering an increase of Rs1.97. In the open market, it was being sold at Rs280, reflecting a rise of one rupee.

It is worth noting that subsequent to the agreement with the International Monetary Fund (IMF), the dollar had previously experienced a decline of Rs10.55, closing at Rs275.44 in the interbank market.