KARACHI: The rupee has been gradually depreciating against the US dollar, even as the greenback itself has fallen by around nine per cent on the dollar index against a basket of global currencies this year, according to market sources.

Since January, the rupee has slipped by Rs3.5, falling to Rs282.16 per dollar in the interbank market on Thursday from Rs278.5 in the first week of 2025. Currency dealers said pressure is mounting in the interbank market amid a persistent dollar shortage.

“Restrictions on imports have tightened. It is increasingly difficult to obtain permission from the central bank to open letters of credit,” said Atif Ahmed, a dealer in the interbank currency market.

He said that despite higher inflows of remittances and continued restrictions on both........

© Dawn Business