US dollar reaches Rs177 in interbank market

Pakistani Rupee low in interbank

KARACHI: The United States (US) dollar continued its climb against the Pakistani rupee in the interbank currency market on Wednesday.

According to the data shared by the State Bank of Pakistan (SBP), the greenback closed at Rs176.98 against the domestic currency, showing appreciation of 26 paisas over the previous close of Rs176.72.

The Pakistani Rupee declined by almost 12 per cent last year. The dollar flight continues despite multiple measures taken by the State Bank of Pakistan (SBP) to stabilise the exchange rate.

Also Read: Mini-budget to sail through Senate within IMF deadline: Shaukat Tarin

Federal Investigation Agency (FIA) is also continuously clamping down on hoarders and smugglers to restrict the outflow of the dollar in a bid to ease its demand.

Leave a Comment