KARACHI: The Pakistani rupee depreciated 41 paisas against the United States (US) dollar in the interbank currency market on Wednesday.
According to the State Bank of Pakistan (SBP), the local currency closed at Rs154.78 against the greenback, registering depreciation of 41 paisas over the previous close of Rs154.37.
Interbank closing #ExchangeRate for today:https://t.co/BYXd9zxp4P pic.twitter.com/CtWbLRBV7S
— SBP (@StateBank_Pak) May 26, 2021
The rupee has recovered more than Rs14 during the last ten 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, higher remittances besides less demand of dollar due to the ongoing pandemic.
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