US dollar weakens against Pakistani rupee

KARACHI: The United States (US) dollar weakened against the Pakistani rupee in the interbank currency market on Wednesday.

According to the data shared by the State of Bank of Pakistan (SBP), the greenback depreciated by 40 paisas against the domestic unit.

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The dollar closed at 176.23 against the rupee as compared to the previous close of Rs176.63.

The Pakistani Rupee declined by almost 12 per cent last year. The dollar flight continued despite multiple measures taken by the State Bank of Pakistan (SBP) to stabilise the exchange rate.

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Federal Investigation Agency (FIA) is also continuously clamping down on hoarders and smugglers to restrict the outflow of the dollar in a bid to ease its demand.

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