Rupee on losing streak against US dollar in inter-bank market

Karachi: The local currency on the trajectory of losing value against the  US dollar in the interbank market on Friday.

According to the State Bank of Pakistan, the rupee depreciated against the US by  0.58 per cent. It showed that the rupee closed at 286.81 on Friday as compared to Thursday when it closed at 285.15.

Interbank closing #ExchangeRate for todayhttps://t.co/PMrUjl22FS#SBPExchangeRate pic.twitter.com/Fj8mJS9mH6

— SBP (@StateBank_Pak) July 21, 2023

The rupee continued to lose value against the US dollar even after the State Bank of Pakistan confirmed increase in the foreign reserves.

The friendly countries including Saudi Arabia, UAE and China fulfilled their commitments and deposit the promised amount into the account of State Bank of Pakistan.