US dollar drops to lowest in six months against rupee

Rupee appreciates slightly against US dollar


KARACHI: The rupee was up 0.04% at 176.16 rupees against the dollar in the interbank market on Wednesday.

A day earlier, the local unit closed at 176.23 rupees against the dollar, according to State Bank of Pakistan (SBP).

Forex traders see ongoing market uncertainty amid tensions between Russia and Ukraine, pushing up commodity prices in global markets.

Data released by the central bank showed that since the start of the fiscal year on July 1, 2021, the Pakistani rupee has depreciated by 11.81% (or 18.62 rupees) after a new growth of 0.4%.

You may also like