KARACHI: The Pakistani rupee Friday depreciated against the US currency in open market and remained firm in interbank after witnessing a volatile day.
As per the local money market, greenback gained 10 paisas versus rupee to close at Rs107.50 for buying and at Rs107.80 for selling, while it remained unchanged in interbank for buying at Rs105.45 and Rs105.65 for selling versus rupee.
Earlier, the dollar was recorded at Rs109.50, while Rs105.45 remained the day’s low. The dollar had closed at Rs105.50 in the interbank market on Thursday.
According to the State Bank of Pakistan (SBP) spokesman, the bank officials had been monitoring the currency situation and would intervene if need be.
“SBP is of the view that this market-driven adjustment in the exchange rate will contain the imbalance in the external account and sustain higher growth trajectory. The exchange rate will continue to reflect the demand and supply conditions; and SBP stands ready to intervene, in case speculative and/or momentary pressures emerge, for smooth functioning of the foreign exchange markets,” the central bank said in a press release.
On Thursday, the dollar remained unchanged both in open market and interbank at Rs107.70 and Rs105.65 respectively.
