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Pakistani rupee strengthens against Greenback
US dollar fell by 40 paisas in interbank
Karachi: Pakistani rupee continues to strengthen against the US dollar on the second consecutive day in the interbank market on Wednesday.
According to the State Bank of Pakistan, the dollar depreciated 23% and slumped by 40 paisas. It traded at Rs176.23.
Earlier, the Pakistani rupee had fallen to an all-time low of Rs178.24 in the interbank and Rs180.30 in the open market on December 29, 2021.
Meanwhile, in the open market, the greenback recorded a drop of 30 paisas to sell at Rs178.80.
With a fresh gain of 0.23%, the rupee has depreciated by 11.86% (or Rs18.69) since the start of the current fiscal year on July 1, 2021, data released by the central bank revealed.
The rupee has maintained the downtrend for the past eight months. It has lost 15.73% (or Rs23.96) to date, compared to the 22-month high of Rs152.27 recorded in May 2021.