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Business Pakistan Top Stories

Rupee Depreciates, Significant Increase in Dollar’s Value

Once again, a significant increase has been observed in the value of the US dollar compared to the Pakistani rupee throughout the country.

According to the data released on the social media platform Twitter by the State Bank of Pakistan’s official website for social connectivity, during the first business day of the current week, there was an increase of one rupee and sixty paisas in the interbank exchange rate between the rupee and the dollar.

Following the depreciation of the rupee, the dollar’s value has risen from PKR 277.59 to PKR 279.26, as per the provided data.

The central bank reported a depreciation of 0.60 percent in the value of the rupee against the US dollar.

On the other hand, in the open market, the dollar became three rupees costlier and reached the level of 283 rupees.

According to currency dealers, the demand for the dollar increased due to income and external payments, resulting in a rise in its price.

In addition, the euro’s value reached 313 rupees, the Japanese yen 2 rupees, the British pound 365 rupees, the Saudi riyal 74 rupees, the Malaysian ringgit 61 rupees, the Indian rupee 3.4 rupees, and the Qatari riyal 76 rupees.