Pakistani rupee inches up against US dollar

KARACHI: The Pakistani rupee on Tuesday appreciated 0.43paisa against the United States (US) dollar in the interbank currency market, ARY News reported.

According to the forex dealers, the local unit is being traded below Rs161 against the US dollar, registering appreciation over the previous close of Rs161.23.

The greenback is being traded at Rs160.80 in the inter-bank market.

The United States (US) dollar crossed the Rs161 mark in the interbank currency market last week, reaching its highest since January 2021.

The greenback closed at Rs161.48 against the Pakistani rupee, registering an appreciation of Rs1.54.

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 per cent or Rs10.51 against the US dollar in the currency market during the fiscal year 2020-21 that ended on June 30.