Rupee extends losses against US dollar

KARACHI: The Pakistani rupee depreciated 60 paisas against the United States (US) dollar in the interbank currency market on Monday.

According to the State Bank of Pakistan (SBP), the local unit closed at Rs158.22 against the greenback, showing depreciation of 60 paisas (-0.38%) over previous close of Rs157.62.

The rupee touched an all-time low of 168.43 last year in August before recouping some losses to hit a 22-month high of Rs152.95 in April.

Also Read: SBP foreign reserves rise $272mn to $16.1bn

The local unit gained considerable ground on the back of improved foreign exchange reserves, current account surplus, and higher remittances besides less demand of dollar due to the pandemic.

The post Rupee extends losses against US dollar appeared first on ARY NEWS.



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