Rupee Depreciates Again: Dollar Gains 11 Paisa in Interbank Market
The Pakistani Rupee continues to lose ground against the US Dollar. On the third business day of the week, the dollar appreciated by 11 paisa in the interbank market. This marks a continuing trend of rupee depreciation, affecting businesses, imports, and the general economy.
📈 Interbank Market: Dollar Climbs to Rs. 284.47
According to the State Bank of Pakistan (SBP), the US Dollar:
- Closed at Rs. 284.47 in the interbank market
- Increased by 11 paisa compared to the previous day
- Previously closed at Rs. 284.36
💱 Open Market Update: Dollar Now at Rs. 287
The dollar also gained value in the open market, where:
- It rose by 16 paisa
- Closed at Rs. 287
This widening gap between the interbank and open market rates is a sign of continuing currency pressure.
🔍 What’s Causing the Rupee to Fall?
The rupee’s depreciation is linked to several economic and global factors, including:
- Ongoing import payments and rising trade deficit
- Political uncertainty affecting investor confidence
- Pressures from IMF-related policies
- Fluctuations in global oil prices and foreign exchange reserves
🔍 Key Highlights
- Currency Affected: Pakistani Rupee (PKR)
- Foreign Currency Involved: US Dollar (USD)
- Markets Monitored: Interbank & Open Market
- Change in Value:
- Interbank: +11 paisa
- Open Market: +16 paisa
❓ FAQs
Why is the Rupee falling against the Dollar?
There are several factors, including:
High import bills
Political uncertainty
IMF conditions
Global inflation pressures
What does it mean for common people?
Imported goods become more expensive
Fuel and energy costs may rise
Inflation can increase overall cost of living
Is the Dollar rate the same everywhere?
No, the interbank rate is usually lower and applies to banks, while the open market rate is for the public and slightly higher.
✅ Conclusion
The ongoing depreciation of the Pakistani Rupee is a serious concern for both the economy and the everyday citizen. With the dollar closing at Rs. 284.47 in interbank and Rs. 287 in the open market, the pressure on imports and inflation is likely to continue.
Keeping an eye on exchange rates and understanding how they affect our daily lives is essential. Whether you’re a business owner, investor, or salaried individual, these small changes in currency rates can have a big impact on your financial planning.
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