Follow Us on Google News
KARACHI: The Pakistani rupee on Thursday lost more grounds against the US dollar, depreciating 1.13% in the interbank market.
As per the State Bank of Pakistan (SBP), the rupee settled at 282.3 against the greenback, a decline of Rs3.18 in the interbank market.
A day earlier, after three successive gains, the rupee had settled at 279.12 against the US dollar, registering a decline of Rs1.25 or 0.45% in the inter-bank market on Wednesday.
In a key development, SBP Governor Jameel Ahmed stated that after steps were taken to curb imports, the current account deficit is forecast to be $7 billion for the current fiscal year as opposed to the budgetary aim of $10 billion.
Moreover, the head of the central bank notified the National Assembly Standing Committee on Finance that the investigation report into select banks accused of manipulating foreign exchange had been finished and showed variations in the forex profits of banks during a specified time period.
