KARACHI: The Pakistani rupee depreciated 24 paisas against the United States (US) dollar in the interbank market on Thursday.
According to the State Bank of Pakistan (SBP), the local unit closed at Rs153.46 against the greenback, registering depreciation of 24 paisas over the previous close of Rs153.22.
Interbank closing #ExchangeRate for today:https://t.co/m8WV79uk4U pic.twitter.com/oXeFbfzl1e
— SBP (@StateBank_Pak) May 20, 2021
On May 19, the rupee closed at Rs153.22 against the greenback, showing appreciation of 33 paisas (0.22%).
The rupee has recovered more than Rs15 during the last seven months since it touched an all-time low of Rs168.43 last year in August.
The local unit has gained considerable ground on the back of improved foreign exchange reserves, current account surplus, foreign loan receipts, higher remittances besides less demand of dollar due to the ongoing pandemic.
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