US dollar crosses Rs200 mark in interbank

US dollar crosses Rs200 mark in interbank


Karachi: The Pakistani rupee (PKR) depreciated further by Rs 2.38 amid loan delays and depletion of foreign reserves.

The rupee was quoted at around 200.30 against the dollar in intraday trade, compared with 197.92 at the close of the previous session on the interbank market.

While the current state of foreign exchange reserves is rather depressing, they will improve significantly in the coming days as Pakistan will soon receive $2.3 billion from China.

Terms and conditions for the refinancing of about $2.3 billion in deposits at Chinese banks have been agreed and approved by the federal cabinet, according to the federal finance and tax ministers.

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