Rupee staggers again as US dollar gains 39 paisas

Karachi (HRNW) After a mere resurgence, Pakistani rupee fell back to its ground against the US dollar during trading in the interbank market on Wednesday.

Data released by the State Bank of Pakistan (SBP) on Wednesday afternoon showed that the rupee depreciated by 0.17% against the greenback.

Wednesday morning saw the value of the rupee trading at Rs223.81 against the greenback in the interbank market.

By contrast, on Tuesday, the interbank market saw the rupee extending gains by 0.11% to rise to Rs223.42, putting an end to the US dollar’s winning streak.

In November, a streak of modest gains by the rupee against the US dollar was snapped on the last trading day of the second week of November and since then, it has lost around Rs2.81 in its value in the interbank market.