Pakistan rupee depreciated against the US dollar in the interbank on the first trading session of the new fiscal year 2021-22 on Friday and shed 33 paisas (-0.21 percent). According to the State Bank of Pakistan, the US dollar opened at Rs157.54 and closed at Rs157.87. Within the open market, the US dollar was traded at 157.70/158.50. Overall, Pakistani rupee shed 25 paisas against the US dollar during this week. However, the local unit has gained Rs10.17 against the greenback in the current fiscal year 2020-21 while appreciation has been Rs2.27 in 2021. The currency experts said that the rupee remained under pressure because the market opened after a closure of one day. They said that the demand for the foreign currency remained high during the day due to corporate and import payments. They further said that foreign companies dispatch profits and dividends to their home countries at the end of the fiscal year and that is why the demand for the dollars is high. They hoped that the rupee would recover after June 30.