In the interbank market, it ended the week at 214.65 after losing 0.31pc to the dollar. Depreciation of US dollar will occur when Rs 65 have to be paid to exchange one US Dollar instead of Rs 67 per dollar as less rupees are needed to buy one. US Dollar to Indian Rupee conversion Last updated Oct 15, 2022, 14:09 UTC. You won’t receive this rate when sending money. According to the State Bank of Pakistan (SBP), the rupee closed at 218.38 after. Lack of inflows and a decline in remittances were the factors that supported the the greenback. After suffering a large loss in value in July, the rupee has already regained 10.33pc of its value this month versus the US dollar and is anticipated to continue to rise. We use the mid-market rate for our Converter. Karachi: The US dollar continued gaining value against the Pakistani rupee on second consecutive day on Thursday. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six. The renewal of Pakistan’s $6b extended financial facility will be discussed and approved at a meeting of the IMF executive board on August 29. On Monday, the rupee slipped 10 paise to finish at a fresh lifetime low of 82.40 against the US dollar. The confirmation of the $1.12 loan tranche payment by the International Monetary Fund (IMF) later this month will likely inspire optimism among currency dealers and market analysts. It will be guided by the monetary policy decision made by the central bank on Monday. On Tuesday, the rupee rebounded from its all-time low to close 19 paise higher at 82.21 against the US dollar. The global oil benchmark, fell 0.46 per cent to USD 88.91 per barrel. In initial trade, the rupee touched 81.75 against the American currency. The rupee appreciated 35 paise to 81.58 against USD. The currency of the South Asian country is expected to maintain its stability versus the dollar and other major currencies, according to analysts and market insiders. On Wednesday, the rupee plunged below the 82-mark for the first time in intraday trade before settling 40 paise down at 81.93 against the dollar. However, due to dampened demand from importers, the Pakistani rupee is anticipated to gain more ground this week versus the US dollar, according to analysts. The IMF tranche which is expected to reach Pakistan by the end-month is likely to give a much-needed boost to our economy and revive confidence in the value of the Pakistani rupee. The dollar lost Rs3.11 against the rupee on Tuesday and closed at Rs233. Moreover, the sky-high inflation in the country, rising trade deficit and falling foreign exchange reserves are putting extreme pressure on the local currency. The ongoing political uncertainty is another factor that keeps dragging the local currency down.
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