KARACHI: Pakistani rupee Thursday continued to lose value against the US dollar, falling 0.12 percent in the interbank market.
As per the State Bank of Pakistan (SBP), the rupee closed at 222.67 after a decline of Rs0.26. In the last five trading sessions, the currency has lost Rs1.25 or 0.56% against the greenback.
Interbank closing #ExchangeRate for todayhttps://t.co/QnNfYxF9eX pic.twitter.com/ewyO9S9U1r
— SBP (@StateBank_Pak) November 17, 2022
On Wednesday, the rupee had continued to depreciate against the US dollar, and closed at 222.41 after a decrease of Rs0.50 or 0.22 percent.
In a significant breakthrough on Wednesday, the SBP promised the Standing Committee on Finance of the National Assembly that action would be taken against banks by the end of the month for allegedly overcharging importers when establishing Letters of Credit.
The SBP informed the banks in person about the practice and counselled them to rationalize the margins they were charging customers, according to information provided to the committee.
Moreover, Pakistan’s external debt and liabilities reduced by $3.282 billion from $130.196 billion as of June 30, 2022, to $126.914 billion at the end of September 2022.
