Depreciation resumes: Pakistan rupee down 23 paisa against US dollar

The Pakistan rupee had another bad day against the US dollar after a depreciation of 23 paisa or 0.10 percent interbank trading on Friday amid uncertainty in market.

By the time the session was closed, the US dollar was available for Rs224.94 against yesterday’s value of Rs224.71.

However, the difference between the interbank and open market isn’t narrowing as the US dollar was traded in range of Rs232.05 to Rs234.37 by the money changers.

During the day, the rupee traded in a band of 45 paisa in interbank exchange rate with a high of Rs225 and low offer of Rs224.65.

During the current financial year (FYTD), the rupee has so far lost Rs20.08 or 8.93 percent in value against the US dollar while the loss stands at Rs48.42 or 21.53 percent since January 1 (CYTD).

Meanwhile, the rupee performed well against the pound sterling on Friday with a gain of Rs4, which was traded for Rs74.03 when compared with the previous day’s value of Rs278.03.

But the rupee weakened by 8 paisa against the euro, which closed at Rs239.2 in interbank trading.

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