The rupee has lost value despite the fact that the State Bank's reserves have increased to $8.7 billion

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KARACHI:2 2 July 2023:  On the interbank market, the rupee fell 0.58 percent to 286.81 against the US dollar on Friday, according to central bank data.
According to State Bank data, the rupee fell by Rs10.35 in six sessions, wiping out all gains gained following a short-term $3 billion agreement with the IMF.


On the last trading day before Eidul Azha, June 27, the rupee closed at 285.99 in the interbank market before rising 3.83 percent to 275.44 in the next day on July 4.

The rupee has lost value despite the fact that the State Bank's reserves have increased to $8.7 billion, close to the reserves in October 2022.

 

 

 

 

 

 

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