By Staff Reporter
KARACHI: Pakistani rupee has registered a marginal loss against the US dollar as interbank trading began on Thursday morning.
Thursday’s loss by the Pakistani currency against the US dollarwas for the 12th straight day. According to the data provided by the foreign exchange dealers, the rupee was being traded at Rs227 after being down by five paisas.
Pakistani rupee was down by one paisa on Wednesday
As per the State Bank of Pakistan, Pakistani rupee was down by 1 paisa to close at 226.95 on Wednesday. In a related development, the country’s trade deficit shrank by 32.65 percent to 17.133 billion dollars during the first half (July-December) of the fiscal year 2022-23 as compared to 25.438 billion dollars during the same period in 2021-22, according to fresh data shared by the Pakistan Bureau of Statistics.
According to financial experts, the decline in trade deficit is positive for the cash-strapped economy. The country has witnessed a significant drop in its foreign exchange reserves, as it struggles to obtain funding from international and multilateral lenders.
