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Rupee continues to depreciate against US dollar

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.

Saman Siddiqui

I am a freelance journalist, holding a Master’s Degree in Mass Communication and an MS in Peace and Conflict Studies, associated with the electronic media industry since 2006 in various capacities. Here at OyeYeah, I cover a range of genres, from journalism to fiction to fashion, including reviews, and fact findings. 

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