According to the central bank, the dollar depreciated against the rupee on Friday in the interbank market as the South Asian nation sold state-owned businesses that were losing money in an effort to boost the economy.
On the final day of the working week, the greenback lost 21 paise in the interbank market and ended the day at Rs277.73, according to the State Bank of Pakistan.
Additionally, the Dirham closed at Rs75.61, the Riyal at Rs73.93, the Australian dollar at Rs184.18, the Euro at Rs298.94, the Japanese Yen at Rs1.8200, and the Pound at Rs359.54.
Lacking funds Under a $7 billion International Monetary Fund program, Pakistan hopes to raise money and reform state-owned businesses by selling a 51–100% interest in the indebted PIA.
