Rupee sheds two paisas against dollar as it continues losing steam

Greenback appreciates to Rs223.94 during trading in interbank on last working day
<p>Photo: SAMAA</p>

Photo: SAMAA

Pakistani rupee recorded a slight decline of two paisas against the US dollar on Friday, depreciating to Rs223.94 during intraday trading in the interbank market.

Data released by the State Bank of Pakistan (SBP) on Friday afternoon showed the rupee’s value falling by 0.01% against the greenback.

Meanwhile, the rupee saw losses of around 11 paisas to Rs223.92 against the US dollar on Thursday during trading in the interbank market.

On Wednesday afternoon, the Pakistani rupee had closed at Rs223.81 after having lost around 39 paisas from the day before.

The Pakistani rupee declined against the US dollar during interbank trading on Wednesday, after experiencing a brief upswing on Tuesday.

By contrast, on Tuesday, the interbank market saw the rupee extending gains by 0.11% to rise to Rs223.42, putting an end to the US dollar’s seven-day winning streak.

Open market

In the open currency market since Friday, the value of rupee remain unchanged at Rs231.

However, the rate to buy the US dollar also stayed at Rs228.75.

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