Pakistani rupee depreciated further against the US Dollar on Monday, despite receiving the funding from International Monetary Fund (IMF) and other countries.
According to the Twitter account of State Bank of Pakistan (SBP), the rate of dollar increased by 1.1 rupees on Monday and closed at 287.92.
The rate of dollar was 279.26 on last Monday, and it has increased by 8 rupees and 66 paisas in one week.
On the other hand, the value of Euro was 319 rupees, Japanese Yen was sold in 2 rupees, British Pound was 370 rupees whereas Canadian dollar was sold for 218 rupees.
The appreciation of the dollar in the interbank market reflects several factors, including global economic conditions, the country’s current account deficit, and the demand and supply dynamics of the dollar in the local market.
