Karachi: Rupee’s downward trajectory against dollar continued for 20th successive session, depreciating 0.14 percent in inter-bank market. As per State Bank of Pakistan rupee declined by 0.32 paisa to close at 228.66. During ongoing fiscal year, rupee has depreciated 10.47 percent against greenback.

During trading bid were Rs 228.65 while offer was Rs 229.65 and in open-market movement rupee remained unchanged for both buying and selling against dollar, closing at 236.50 and 238.75 respectively.

Against Euro, PKR remained unchanged for both buying and selling, closing at 269 and 271 respectively.

Against UAE Dirham, it lost 10 paisas for buying and 20 paisas for selling, closing at 68.10 and 68.70 respectively. Against Saudi Riyal, lost 10 paisas for both buying and selling, closing at 66 and 66.60 respectively. Moreover, Exchange Companies Association of Pakistan suggested introducing and setting special exchange rate of dollar against rupee for export-import bills and remittances.

US dollar index bounced from seven-month low of 101.77 made day ago and held at 102.50. Sterling touched highest since mid-December at $ 1.2288 before easing back to $ 1.2177 in Asia trade.

Published in The Daily National Courier, January, 18 2023

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