Pakistan rupee declines against US dollar in interbank market

Karachi: The Pakistan rupee saw a persistent depreciation against the US dollar in the interbank market on Tuesday.

The local currency recorded a 1.46% decline against the US dollar, while it exhibited resilience in the open market.

As the interbank market concluded its session, the dollar was quoted at Rs307.10, marking a 0.48% increase compared to the previous closing rate of Rs305.64, as reported by the State Bank of Pakistan.

Interbank closing #ExchangeRate for todayhttps://t.co/FINffr34QO#SBPExchangeRate pic.twitter.com/lqTVJy7m1k

— SBP (@StateBank_Pak) September 5, 2023

Conversely, in the open market, the dollar was trading at Rs324 during the afternoon.

It was disclosed earlier today that the exchange rate of the US Dollar (USD) in the open market witnessed a decline following increased vigilance and the deployment of undercover law enforcement personnel at exchange companies throughout the nation.