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.

Security Forces killed 18 terrorists of Indian proxy, Fitna al Hindustan in Balochistan
- 14 hours ago

What scientists saw underwater in Florida left them “shocked” — and devastated
- 18 hours ago

The tax avoidance playbook
- 18 hours ago

Trump optimistic about to end the trade war between the world’s two largest economies
- 16 hours ago

What a pastor saw ICE do to protesters outside Chicago
- 9 hours ago

The GOP’s antisemitism crisis
- 9 hours ago

Why Taylor Swift made herself the villain
- 18 hours ago

PM Shehbaz directs probe to identify those involved in sales tax fraud
- 7 hours ago

Top TTP commander among four Kharji killed in Bajaur operation: ISPR
- 9 hours ago

Pakistan seeks peace with neighbors but will not tolerate terrorism from Afghanistan:FM Asim Munir
- 5 hours ago

CM Sohair Afridi writes letter to IHC for registering contempt of court case against Adiala jail authorities
- 16 hours ago

Is the US killing innocent people?
- 18 hours ago







