KARACHI: The Pakistani rupee on Tuesday continued its losing run against the US dollar, depreciating 0.17% in the interbank market.
At close, the currency settled at 287.91, a decrease of Rs0.48, as per the State Bank of Pakistan (SBP).
Interbank closing #ExchangeRate for today https://t.co/hyaSSfJDya#SBPExchangeRate pic.twitter.com/u5Hb5mTgNe
— SBP (@StateBank_Pak) August 8, 2023
On Monday, the rupee opened the week on a negative note against the US dollar and depreciated 0.16% to settle at 287.43.
In a key development, the Economic Coordination Committee (ECC) adopted a proposal to amend the contours of six State Bank of Pakistan (SBP) incentive schemes in order to boost remittance inflows and achieve optimal remittance inflow through formal channels.
Home remittances contribute significantly to the country’s foreign account, increasing economic activity in Pakistan, and supplementing the discretionary earnings of remittance-dependent households.
