The rupee lost Rs2 in the interbank market on Thursday, data shared by the State Bank of Pakistan (SBP) showed.

The rupee closed at Rs225.42 per dollar, a depreciation of 0.89 per cent.

The previous session also saw the dollar gain against the rupee by Rs2.

FAP Chairman Malik Bostan said the dollar had been strengthening globally, having gained against 40 currencies for weeks, and its impact was being seen in Pakistan’s currency market as well.

Bostan said the rupee was Rs8 costlier in the open market and urged the government to take measures to narrow down this difference.

“The government should use its diplomatic sources to end the UAE government’s regulation mandating travellers from Pakistan to carry 5,000 dirhams in cash,” he added.

He went on to say that if the promised $4 billion from friendly countries arrives immediately in Pakistan, it would alleviate the pressure on the rupee and help stabilise its value.

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