US dollar crosses Rs162 mark in interbank as slide continues

KARACHI: The United States (US) dollar has soared in the interbank, crossing the Rs162 mark in the currency market on Monday, ARY NEWS reported quoting forex dealers.

The rupee registered an appreciation of Rs0.66 in the interbank and reached Rs162.55 after closing at 161.89 on July 29.

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.

Read More: WORKERS’ REMITTANCES MAINTAIN ABOVE $2 BILLION LEVEL FOR 13TH MONTH IN JUNE

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.

The post US dollar crosses Rs162 mark in interbank as slide continues appeared first on ARY NEWS.



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