KARACHI: Pakistan’s rupee on Thursday registered a marginal loss as the local currency fell by Rs0.50 against the US dollar in the interbank market.
The rupee closed at 218.38 after depreciating 50 paise or 0.23%, the State Bank of Pakistan (SBP) said.
Interbank closing #ExchangeRate for todayhttps://t.co/dujfbK7WBp pic.twitter.com/RtHy4ZkudH
— SBP (@StateBank_Pak) October 13, 2022
The rupee has cumulatively appreciated Rs21.32 or 9.8% in the last fifteen trading sessions.
On Wednesday, the rupee finally ended its 13-session appreciation run against the US dollar and closed at 217.88 after depreciating Re0.09 or 0.04%.
After recovering throughout the month of October, which came on the back of a shift in sentiment and actions taken by the central bank against players involved in speculative activity, the rupee is showing signs of stabilization against the US dollar.
Earlier, Federal Minister for Finance and Revenue Ishaq Dar vowed to bring back Pakistani rupee at its original value which is less than 200 against US dollar. “I can genuinely prove that dollar’s actual value is below Rs200,” he added.
