KARACHI: The Pakistani rupee on Monday registered losses against the US dollar, depreciating 0.16% in the interbank market.
At close, the currency settled at 287.43, a decrease of Rs0.46, as per the State Bank of Pakistan (SBP).
Interbank closing #ExchangeRate for today https://t.co/dm2kl75pFa#SBPExchangeRate pic.twitter.com/UWhO6CvsxR
— SBP (@StateBank_Pak) August 7, 2023
During the previous week, the rupee depreciated a marginal 0.18% to close at 286.97 against the US dollar in the inter-bank market.
The rupee witnessed three sessions of losses and two straight sessions of gains, but focus shifted to the political front when Prime Minister Shehbaz Sharif reportedly announced the date for the dissolution of the National Assembly.
Meanwhile, the State Bank of Pakistan’s (SBP) foreign exchange reserves experienced a slight decline—a non-event for the currency market—all eyes will be on how high the import bill grows as the government relaxes restrictions.
