Karachi: The US dollar depreciated on the fifth and last day of the trading week in the Interbank and open market Foreign Exchange.
According to the data released by the State Bank of Pakistan, the dollar has depreciated by 4 paisas in the interbank market. According to Forex dealers, the dollar fell from Rs157.16 to close at Rs157.12 on the interbank market.
Interbank closing #ExchangeRate for today: https://t.co/y5jFuwWtnp pic.twitter.com/Udpq7DwHJD
— SBP (@StateBank_Pak) March 5, 2021
Whereas in open market, the buying rate of the US dollar was Rs157.1, while its selling rate was Rs157.9 on Friday.
Dealers said the local unit reversed some of the gains it made in the previous session, as political uncertainty outweighed the impact of positive developments on the economic front.
Moreover, an increase in the trade deficit also hurt the sentiment. Pakistan’s trade deficit widened 24% year-on-year to $2.52 billion in February due to higher imports and a decline in exports.
Rookie Bueckers, Ogwumike named ASG starters
- 5 hours ago
Mobile phone service starts shutting down in Karachi
- 7 hours ago
Muharram 9 central processions underway in major cities
- 6 hours ago
Federal govt debt reaches all-time high in Pakistan’s history
- 6 hours ago
Drugs worth over Rs9mn seized in anti-smuggling operations
- 8 hours ago
Firing in Bannu leaves jirga member killed, three wounded
- 2 hours ago
Crackdown in Punjab against illegal possession of lions, 4 people arrested
- 7 hours ago
PM Shehbaz, President Erdogan, President Ilham camaraderie manifests close, fraternal ties
- 4 hours ago
Microsoft to shut down office in Pakistan, lay off 5 employees
- 8 hours ago
Maple Leafs trade Marner to Knights, sources say
- 5 hours ago
Martyrdom of Hazrat Imam Hussain to be solemnly observed tomorrow
- an hour ago
CTD foils major attack in Taunsa Sharif; Five terrorists eliminated
- 8 hours ago
