Rupee holds steady at 176.98 against US dollar

PKR depreciates against USD in intraday trade


Karachi: The Pakistani rupee (PKR) extended losses against the United States (US) dollar in the interbank on the first trading day of the week.

The U.S. dollar rose by 49 paisa in intraday trading, at a transaction price of approximately Rs 170.5, compared to the closing price of the previous business day of 170.1.

Earlier on Friday, the rupee fell 4 paisa against the US dollar to 170.1 rupees, ending its continuous upward momentum.

After the government announced that Saudi Arabia would provide up to 4.2 billion U.S. dollars in financial support, the rupee began to recover from its plunge against the U.S. dollar, increasing the central bank’s foreign exchange reserves and boosting sentiment in the currency market.

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