Rupee depreciates by 40 paisas against dollar in early trading

KARACHI: The Pak Rupee depreciated by 40 paisas against dollar in early trade on Monday owing to high demand after weekly holidays.
The exchange rate is at Rs138.80 to the dollar in foreign exchange market.
The interbank foreign exchange market has continued with rupee depreciation as the rupee fell by 16 paisas on last Friday.
The exchange rate ended at Rs138.40 to the dollar on Friday from previous day’s closing of Rs138.24 in interbank foreign exchange market.
Market sources said that traders were anticipating further decline in rupee value as Pakistan was entering to new IMF loan program.
Pakistan has suffered challenging fiscal situation over the period of last one year.
According to the finance ministry revaluation losses due to appreciation of international currencies against US Dollar and depreciation of Pak Rupee against US Dollar increased the total public debt by around Rs 1.2 trillion.

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