WEB DESK
A slew of development packages and yuan clearing measures failed to lift the rupee over the US dollar during trading in the interbank on Thursday, with the rupee depreciating by 0.23%.
According to data released by the State Bank of Pakistan on Thursday afternoon, the rupee lost around 52 paisas.
This meant that the rupee, which had opened the day at Rs221.43, closed out the trading day at Rs221.95. This is in contrast to the low it was trading at during the morning when the rupee’s value fell to Rs222.15. In the past two days, the rupee has lost over Rs
The rupee has been struggling against the dollar for the past fortnight with the value oscillating around Rs220-221.
Open market
In the open market, the rupee saw its value erode by another 50 paisas as the cost of a US dollar jumped to Rs228.
