Pakistani rupee further weakens against US dollar

ISLAMABAD: The Pakistani rupee (PKR) weakened by Rs1.40 against the US dollar (USD), closing at Rs304.45 in the interbank market on Wednesday, as announced by the State Bank of Pakistan.

The local currency depreciated by -0.46 per cent against the dollar.

Interbank closing #ExchangeRate for todayhttps://t.co/uoyN8h2pSj#SBPExchangeRate pic.twitter.com/EQ4HHYi1S3

— SBP (@StateBank_Pak) August 30, 2023

Earlier in the day, the open market rate stood at Rs303.20 to the USD before noon, indicating an increase of 15 paisa from the previous day’s close of Rs303.05 versus the greenback.

However, by noon, the decline broke records, with a loss of Rs1.20 per USD. The interbank exchange rate around noon was Rs304.25 to the USD.