Rupee extends losses against US dollar

KARACHI: The Pakistani rupee depreciated 11 paisas against the United States (US) dollar in the inter-bank currency market on Thursday.

According to the State Bank of Pakistan (SBP), the local currency finished at Rs166.98 against the greenback, registering depreciation of 11 paisas over the previous close of Rs166.87.

Interbank closing #ExchangeRate for today:https://t.co/4k5d58TV9c pic.twitter.com/qE1ROiFi7a

— SBP (@StateBank_Pak) September 2, 2021

On Tuesday, the dollar had crossed the Rs166 mark in the interbank market.

The Pakistani rupee had touched an all-time low of 168.43 against the greenback last year in August before recouping some losses to hit a 22-month high of Rs152.95 in April 2021.

The local unit rose by 6.2 percent or Rs10.51 against the US dollar in the currency market during the fiscal year 2020-21 that ended on June 30.

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