US dollar falls against PKR

The exchange rate of the US dollar against the Pakistani Rupee Thursday during the trading session fell below Rs155 in the interbank market. As per Forex dealers, the dollar fell from Rs155.39 to close at Rs155.01 in the interbank market.

The US dollar-PKR exchange rate was recorded at Rs154.98 / 155.02.

According to Mets Global, in the interbank market, the dollar was traded at Rs155.

State Bank of Pakistan data shows that the dollar depreciated by 38 paisas in the interbank market.

Interbank closing #ExchangeRate for today: https://t.co/baO9lZohmb pic.twitter.com/4yoKlxCJoR

— SBP (@StateBank_Pak) March 25, 2021

However, The rupee appreciated by about 40 paisas against the previous day's price of Rs155.39.

Note that this is the first time since March 6, 2020, that the dollar has fallen below the level of Rs155

It may be recalled that during the current financial year, the exchange rate fluctuated sharply and in August 2020 (FY 21), the rupee depreciated to its lowest level against the dollar, reaching Rs168.70 on August 20 last year.

The rupee then began to recover and has improved significantly against the US dollar over the past four months.

The rupee had traded at Rs 161.13 on January 16 this year, gaining Rs2.32 per dollar or 1.4 per cent. On February 12, the dollar traded at Rs158.81 in the interbank market, the lowest level in three months.

It should also be noted that the depreciation of the dollar and the appreciation of the rupee came at a time when the International Monetary Fund (IMF) delayed its program for Pakistan for more than a year.

The IMF Board has approved the third tranche of $500 million programme for Pakistan.