The rupee continues to depreciate against the US dollar!
The Pakistani rupee underwent another fall on the opening day of the week and nearing a 12-month low.
On Monday, the Pakistani currency depreciated by around 0.20% to close at Rs165.96 in the inter-bank market.
As per the State Bank of Pakistan (SBP), the PKR closed at 165.96 against the dollar, a decline of Rs0.34 or 0.20%.
According to the daily data released by the State Bank of Pakistan, the rupee closed at Rs165.62 in the inter-bank market on August 27.
It is pertinent to mention here that the real effective exchange rate below 100 means the country’s exports remain competitive and import expensive.