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The Pakistani rupee registered a marginal decline against the US dollar in the open market on Friday as its persistent fall continued.

During the day, currency dealers Business Recorder reached out to said the rupee was quoted at 288 for selling and 285 for buying purposes for customers.

At the end of trading, the currency closed at the same rates, according to data provided by the Exchange Companies Association of Pakistan (ECAP).

In the previous session, it had closed at 287.5 for selling and 284.50 for buying.

In the inter-bank market, the rupee’s downward trajectory continued for the 14th successive session against the US dollar on Friday, as it depreciated 0.05% or Rs0.13 to settle at 287.03.

The gap between rates in the inter-bank and open markets is required to be less than 1.25% under one of the structural benchmarks set by the International Monetary Fund.

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Chukwu Assumpta Nov 13, 2023 01:51am
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