KARACHI: Pakistan's currency depreciated by 2.6 percent vis-à-vis the US dollar during H1-FY13, compared to 4.4 percent in the same period last year, said the State Bank of Pakistan's second quarterly report released on Saturday. Weakness of Pak rupee against the US dollar, coupled with the depreciation of US dollar against the euro and the sterling, the rupee lost 7.8 and 5.1 percent of its value against the euro and GB pound respectively.
Nonetheless, Pak rupee appreciated by 5.6 percent against the Japanese yen as the yen weakened against major currencies during H1-FY13, it added. The real effective exchange rate depreciated by 4.5 percent during H1-FY13 in contrast to an appreciation of 3.2 percent during the same period last year, it mentioned.