Rupee depreciates 0.31% against dollar in interbank market

KARACHI – The Pakistani rupee depreciated against the US dollar on Friday in interbank and open markets, showings surge in demand of the greenback.

The local currency closed at 277.90 after depreciating by 0.31% against the American currency in the interbank market, showed the data shared by the State Bank of Pakistan on Twitter.

In the open market, the US dollar strengthened by Rs1 to settle at Rs281.

A day earlier, the rupee surged by 0.13% to close at Rs277.04 against the greenback as the IMF loan deal caused positive sentiments in the market.