KARACHI: Pakistani rupee on Thursday registered a decline against the US dollar for the 17th successive session, depreciating 0.09% in the interbank.
As per the State Bank of Pakistan (SBP), the rupee declined by Rs0.21 to close at 228.14. During the ongoing fiscal year, the rupee has depreciated 10.25% against the greenback.
Interbank closing #ExchangeRate for todayhttps://t.co/3d2f49Xw5Q pic.twitter.com/bqeMSkVUSb
— SBP (@StateBank_Pak) January 12, 2023
On Wednesday, the rupee had registered a loss for the 16th successive session against the US dollar to settle at 227.93 after a decrease of Rs0.05 or 0.02%.
In a separate development, the Ministry of Economic Affairs on Thursday signed an agreement with the Saudi Fund for Development (SFD), a Saudi Arabian government agency that provides development assistance to developing countries, to finance oil derivatives worth $1 billion to Pakistan.
According to a statement made by the Economic Affairs Division (EAD), which is in charge of negotiating agreements for external economic assistance from foreign governments and multilateral organizations, the agreement was signed by Sultan Abdulrahman Al-Marshad, CEO of the SFD, and Dr. Kazim Niaz, Secretary of the Ministry of Economic Affairs.
The development comes after a Saudi news channel reported that Pakistan and Kingdom of Saudi Arabia (KSA) are likely to ink an agreement of over $1 billion dollars in the days ahead in the oil sector.
