Pakistan rupee depreciated against the US dollar in the interbank on Monday and shed 19 paisas (-0.12 percent). According to the State Bank of Pakistan, the US dollar opened at Rs159.17 and closed at Rs159.36. Within the open market, the US dollar was traded at 159.50/160.30. Pakistani rupee shed Rs1.33 against the US dollar last week, while depreciation during the fiscal year 2021-22 has been Rs1.82. However, the local unit has so far gained Rs0.75 in 2021. Currency experts said that the local currency remained under pressure because of higher dollar demand for import payments due to the opening of the market after two weekly holidays. The SBP reported last week that the foreign exchange reserves of the country increased to $24.415 billion by the week ended July 02, 2021. The foreign exchange reserves increased due to inflows of $1 billion as loan disbursement from China and $440 million from the World Bank.