Rupee falls 0.22 paisa against US dollar
Business
Rupee falls 0.22 paisa against US dollar
KARACHI (Dunya News) – Green back on Monday sustained minor losses against the US dollar, as the currency recorded a depreciation of 0.10% in the interbank market.
As per the State Bank of Pakistan (SBP), the rupee closed at 223.91 after a decrease of Re0.22.
During the previous week, the rupee witnessed one of its most stable periods in recent times, appreciating 0.11% in the inter-bank market across the five sessions to settle at 223.95 against the US dollar.
However, worries over informal channels of currency trading gained traction as experts said rampant smuggling and prevalence of a black market was hitting Pakistan’s efforts to reduce volatility in the exchange rate.
