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KARACHI: Pakistani rupee on Friday ended the final session of the year 2022 with a marginal loss against the US dollar, depreciating for the ninth consecutive session in the interbank market.
As per the State Bank of Pakistan (SBP), the rupee closed at 226.43 after a fall of Rs0.02 or 0.01% against the greenback. The rupee depreciated over 22% against the US dollar during the calendar year.
Interbank closing #ExchangeRate for todayhttps://t.co/loioG0JO2s pic.twitter.com/4MxvSPKnjy
— SBP (@StateBank_Pak) December 30, 2022
On Thursday, the rupee depreciated against the US dollar for the eighth straight session to settle at 226.41 after a decline of Rs0.04 or 0.02%.
Data on Thursday showed that the State Bank of Pakistan’s (SBP) foreign exchange reserves dropped by another $294 million, to a critically low level of $5.82 billion, in an important development. Since April 2014, SBP-held reserves have never been this low.
The country’s total holdings of liquid foreign exchange were $11.71 billion. There were $5.89 billion in net foreign reserves held by commercial banks.