KARACHI: The rise of the United States (US) dollar in the interbank against the Pakistani rupee continued on Monday as it crossed the Rs163 mark, ARY NEWS reported.
According to details, the US dollar was traded at Rs163.05 in the interbank after witnessing an increase of Rs0.62 on the first day after the weekend when it was traded at Rs162.
— SBP (@StateBank_Pak) July 30, 2021
Economic experts attributed the spike in the dollar value to strong demand saying imports and debt repayment were pushing the greenback’s price in the interbank market.
The Pakistani rupee had touched an all-time low of 168.43 against the greenback last year in August before recouping some losses to hit a 22-month high of Rs152.95 in April, 2021.
The local unit rose by 6.2 percent or Rs10.51 against the US dollar in the currency market during the fiscal year 2020-21 that ended on June 30.