The depreciation of the Pakistani Rupee (PKR) against the greenback is held and it closed at Rs 156.74 in the interbank market on Thursday compared to Rs 156.96 on Wednesday.
The local currency has got in a stabilization stage against greenback and gained 0.14% on the end market closing.
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PKR had rebounded during the past 10 months after its value tremendously dropped to Rs 168.43 last year in August, an all-time low against the greenback.
Interbank closing #ExchangeRate for today:https://t.co/w3OjbLJCJF pic.twitter.com/tdpKBfWNrZ
— SBP (@StateBank_Pak) June 17, 2021
After a record inflow of remittances resulting in an improved condition of foreign exchange reserves, the local currency had gained health and retained stability against the greenback.
The decline in the value of PKR is a result of the dollar stabilizing in the global market as the US reopens following the lifting of covid-19 strictures.