KARACHI: The Pak Rupee (PKR) ended unchanged against the dollar on Monday as the State Bank of Pakistan (SBP) imposed curbs on buying of foreign exchange.
The rupee ended at Rs178.04 to the dollar, which was the same closing on last Friday, in the interbank foreign exchange market.
READ MORE: Dollar hits record high of Rs178.04 at interbank closing
The closing was also the historic low of the local currency against the greenback.
A day earlier, the SBP imposed a curb on buying of foreign currency by individuals from the open market.
READ MORE: SBP sets limits for sale of foreign exchange to individuals
The central bank sets a limit of $10,000 per day for an individual and $100,000 per year for the individual. Besides, the restriction of the SBP also imposed the requirement of certain documents for the purchase of the foreign currency.
It is worth mentioning that the SBP last week announced the monetary policy statement and increased the policy rate by 100 basis points to 9.75 per cent to curb the domestic demand for curtailing inflation. Further, the intention of the central bank was to support the rupee as well.
