US Dollar depreciates against rupee

US Dollar depreciates against rupee

July 4, 2019

KARACHI: The Pakistani rupee on Thursday gained strength against the US dollar as the greenback depreciated by Rs1.11 in the interbank market.

The US dollar is now being traded at Rs156.50 in the interbank market.

The dollar has also fallen by Rs1 in the open markets, now being sold at Rs157.65.

According to experts, the sudden devaluation of the Pakistani rupee is due to the impact of the $6 billion loan agreement with the International Monetary Fund.

Due to the spike of the dollar against the rupee, there is a shortage of the US currency in the market.

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