US dollar price dips in interbank

Karachi: The US dollar has depreciated Rs.1.43 against the Pakistani rupee in interbank, on Monday.

According to forex dealers, the dollar is currently trading at Rs174.30 after depreciating by Rs1.43 against the local unit in intra-day trading.

The greenback was closed at Rs175.73 on Friday, the State Bank said.

On the other hand, Adviser to Prime Minister on Finance, Shaukat Tarin on Sunday claimed that ‘satta mafia‘ is involved in the depreciation of the rupee as the greenback being smuggled to Afghanistan. He announced that the government was going to tighten the noose around the mafia.

It is pertinent to remember that during the last seven days the local currency has lost around Rs5.76, it last dropped to a record low of Rs175.26 against the US currency on October 26.