KARACHI: Pakistani rupee snapped a two-day losing streak against the US dollar in the interbank market and appreciated by 19 paisas on Friday. According to details, the rupee opened at 278.40 against the greenback in the interbank market and closed at 278.21, going up by 0.07 percent. The rupee depreciated by eight paisas and 14 paisas on Wednesday and Thursday last, respectively, while it shed nine paisas against the US dollar this week. Meanwhile, rupee’s Real Effective Exchange Rate Index (REER) increased by 0.4 percent on a month-on-month basis in April 2024 to a provisional value of 104.51 from the revised value of 104.09 in March 2024. According to data published by the SBP, the REER index has increased by 22.14 percent on a year-on-year basis as compared to April 2023. Similarly, the Nominal Effective Exchange Rate Index (NEER) increased by 1.11% in April to a provisional value of 39.3 from the revised value of 38.86 in March. On a yearly basis, the NEER Index has increased by 6.83%. TLTP
