Rupee Depreciates by 39 paisa’s to Rs224.50 during interbank trading
Staff Report
KARACHI: Pakistan’s rupees suffered another loss of 39 paisa to trade at Rs224.50 on Wednesday against the restive US dollar during trading in the interbank market.
On Tuesday afternoon, the value of the PKR slid by 0.09% from Rs223.91 to Rs224.11 during interbank trading. However, this depreciation in the PKR rate came on the back of the delay in formal talks by the global financial institution, International Monetary Fund (IMF), on the overdue ninth review.
Earlier on Monday, the figures released by the State Bank of Pakistan (SBP) showed the value of the PKR shedding Rs0.22 from Rs223.69 to Rs223.91 during interbank trading.
Rupee spot rate
Meanwhile, the PKR spot rate remained stable last Thursday and Friday at Rs223.69 in the interbank currency market. In the open currency market, the value of the PKR remained unchanged at Rs231.50, respectively. The rate to buy the US dollar also stayed at Rs229.25.
