Interbank U.S. dollar flight continues against rupee, further up during day

KARACHI: The interbank flight of the United States dollar against the Pakistan rupee continued Thursday during the trade hours as it gains Rs0.10 at the rupee’s expense to stand at Rs170.60, ARY News reproted.

Dollar closed at Rs170.48 against the local rupee yesterday and in the initial trading hours today, it has further gained against the rupee.

As reported yesterday, the dollar surged to a historic high in Pakistan open market as it traded above the Rs172 mark after gaining Rs0.20 over the bleeding currency.

In the past four months alone, the dollar value has jumped Rs18 as on May 7, it stood Rs152.28.

This surge in the open market followed the bullish inter-bank trade which, too, noted routing of the local currency against the greenback.