Rupee depreciates by Rs1.26 against dollar in interbank market

Karachi: The rupee depreciated against the US dollar in the interbank market on Wednesday.

The rupee lost its value after a slight recovery in the past two sessions.

The State Bank of Pakistan (SBP) said that the Pakistan rupee depreciated by Rs 1.26 against the dollar in the interbank trading and closed at Rs 279.12 against the previous day’s closing of Rs 277.86.

Interbank closing #ExchangeRate for todayhttps://t.co/5sHQhN1xXJ pic.twitter.com/NOwSdbAV39

— SBP (@StateBank_Pak) March 8, 2023

The Forex Association of Pakistan (FAP) said that the buying and selling rates of dollars in the open market were recorded at Rs 278.2 and Rs 281 respectively.