KARACHI: Pakistani rupee registered a marginal loss for the fourth successive session against the US dollar on Thursday, as the currency recorded a depreciation of 0.09 percent in the interbank market.
As per the State Bank of Pakistan (SBP), the rupee closed at 224.37 after a decrease of Rs0.21. The rupee has depreciated by 21.33% against the US dollar during the ongoing calendar year.
Interbank closing #ExchangeRate for todayhttps://t.co/9rohqv5k0R pic.twitter.com/VjV6IUIAyA
— SBP (@StateBank_Pak) December 8, 2022
On Wednesday, the rupee had registered losses against the US dollar to settle at 224.16 after a decrease of Rs0.05 or 0.02%.
In a key development, Prime Minister’s Office (PMO) sought a report from the Finance Ministry on pending foreign exchange approvals from the State Bank of Pakistan (SBP), reported Business Recorder.
Pakistan’s foreign exchange reserves have been depleting for months now and are currently hovering at $13.37 billion level. According to the weekly report, foreign exchange reserves held by the SBP clocked in at $7.5 billion.
A low level of forex reserves has also put pressure on the currency.
