After losing over 10 percent last year, rupee kicked off 2022 with a loss of 0.14 percent against dollar on Tuesday.

Today marked the first day of trading of the new calendar year as a nationwide banking holiday was observed on Monday.

According to data released by the State Bank of Pakistan (SBP), the local currency closed the day at Rs176.75 against the greenback in the interbank market.

Rupee closed 2021 at Rs176.51 against the greenback.

The rupee has maintained the downtrend for the past seven months. It has lost 16.07 percent (or Rs24.48) to date, compared to the 22-month high of Rs152.27 recorded in May 2021.

With a fresh rise of 0.14 percent, the rupee has depreciated by 12.19 percent (or Rs19.21) since the start of the current fiscal year on July 1, 2021, data released by the central bank revealed.

It may be recalled that the local unit hit an all-time low of Rs178.24 on December 29.

The story was filed by the News Desk.
The Desk can be reached at info@thecorrespondent.com.pk.

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