KARACHI (National Times) – Pakistani rupee on Monday recorded marginal improvement against the US dollar, appreciating 0.16% in the inter-bank market after Saudi Arabia deposited $3 billion fund to State Bank.

According to central bank, the green back closed at 176.48 against the USD after a day-on-day appreciation of 29 paisa or 0.16%.

On Friday, the Pakistani rupee closed at a record low of 176.77 against the USD.

As per the Exchange Companies Association of Pakistan (ECAP), PKR gained 1 rupee for buying and selling over the day closed at 178 and 178.50 respectively in the open market.

The local currency has depreciated by 10.73% or PKR 18.93 in the fiscal year-to-date against the USD. Similarly, the rupee has weakened by 9.43% or PKR 16.64 in CY21, with the month-to-date (MTD) position showing a decline of 0.43%.

Meanwhile, the currency gained 1.1 rupees against the Pound Sterling as the day s closing quote stood at PKR 233.47 per GBP, while the previous session closed at PKR 234.6 per GBP.

Similarly, PKR s value strengthened by 56 paisa against EUR which closed at PKR 199.03 at the interbank.