Pak Rupee recovers slightly against dollar as central bank controls certain outflows
However the local currency has maintained the downtrend for the last seven months


Karachi: Pak Rupee recovered slightly against the US dollar on the last day of the trading week after the State Bank of Pakistan (SBP) tightened up regulations on foreign currency transactions in an attempt to prevent the local unit from falling further.
"Local currency closed at Rs176.67 compared to its last close of Rs176.2 against the US currency a day earlier," the central bank said.
The rupee also bounced back in hopes that after approval of the supplementary finance bill will help Pakistan secure a $1 billion loan tranche from the International Monetary Fund (IMF) which will improve the demand and supply parity.
Interbank closing #ExchangeRate for today: https://t.co/VDSGG1DiUP pic.twitter.com/1IJzFDmz0q
— SBP (@StateBank_Pak) January 7, 2022
The rupee has maintained the downtrend for the past seven months. It has lost 16.02% (or Rs24.4) to date, compared to the 22-month high of Rs152.27 recorded in May 2021.
With a fresh rise of 0.14%, the rupee has depreciated by 12.14% (or Rs19.13) since the start of the current fiscal year on July 1, 2021, data released by the central bank revealed.
Pak Rupee hit an all-time low of Rs178.24 on December 29.

Sony’s new Xperia phone jumps on the camera bar bandwagon
- 7 گھنٹے قبل

Joint statement on state visit of PM Shehbaz to Kingdom of Saudi Arabia
- 3 گھنٹے قبل

Heavy rain in areas of Islamabad, Azad Kashmir
- ایک گھنٹہ قبل

3 cops killed in shooting in US state of Pennsylvania
- 3 گھنٹے قبل

Steelers likely to adjust after gaffe; Highsmith out
- 6 گھنٹے قبل

Saudi Arabia, Pakistan together against aggressor, forever and ever: Saudi Defense Minister
- 32 منٹ قبل

Trump asks the Supreme Court to give him total control over the US economy
- 5 گھنٹے قبل

Dabo defends record following 1-2 start, poll exit
- 6 گھنٹے قبل

A Democratic senator on the fights his party has to pick
- 5 گھنٹے قبل

Why is Trump suing the New York Times?
- 5 گھنٹے قبل

Our hottest takes on AI’s wild summer
- 7 گھنٹے قبل

Mashreq Digital Bank in Pakistan, Pakistanis in Emirates can send remittances for free
- 3 گھنٹے قبل