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KARACHI: Pakistani rupee on Tuesday registered a loss against the US dollar for the seventh consecutive session, depreciating 0.02 percent in the interbank market.
As per the State Bank of Pakistan (SBP), the rupee closed at 224.70 after a decline of Rs0.05. The rupee has depreciated by 21.47% against the US dollar in the ongoing calendar year.
— SBP (@StateBank_Pak) December 13, 2022
On Monday, the rupee had registered a loss for the sixth successive session against the US dollar to settle at 224.65 after a decrease of Re0.25 or 0.11%.
In a key development, it was reported that Pakistan will likely secure a multi billion-dollar financial support package from long-time ally Saudi Arabia this month.
Moreover, it was later learnt that the International Monetary Fund (IMF) executive board remains divided over Pakistan’s and other countries’ requests to suspend loan surcharges.