Pakistani rupee experiences another negative session in interbank
By News Desk
May 23, 2023 05:40 PM
The Pakistani rupee suffered another day of setback as it lost 59 paisas in value against the US dollar in the interbank on Tuesday, reported 24NewsHD TV channel.
According to the State Bank of Pakistan, the local currency was depreciated by 59 paisas against the greenback and ended the day at Rs287.15.
The trend was same on Monday when the rupee had registered losses against the US dollar for the fourth consecutive session to settle at 286.56.
In a key development, the tax collection target of the Federal Board of Revenue (FBR) would be fixed within the range of Rs9 trillion to Rs9.2 trillion for 2023-24.
Reports said the tax projections for 2023-24 would be finalised keeping in view the massive shortfall in revenue collection of the FBR during 2022-23. The rates of certain withholding taxes and sales tax/excise duty would be further raised in the coming budget (2023-24).
Reporter Ashraf Khan