Karachi: The US dollar continued to decline on the fourth day of the business week in the Interbank Foreign Exchange market.

The exchange rate of the US dollar against the Pakistani Rupee during the trading session fell below Rs153 in the interbank market and was recorded at Rs152.60.
Interbank closing #ExchangeRate for today:https://t.co/ppH16jlXrb pic.twitter.com/sySZsDVy81
— SBP (@StateBank_Pak) May 6, 2021
State Bank of Pakistan data shows that the dollar depreciated by 44 paisas in the interbank market taking USD to a new low.
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 supply and demand position of dollars and the upcoming data on the country’s forex reserves will determine the future direction of the rupee. The rupee should conclude this week at Rs152.3 - 153.5 per dollar,” said a currency exchange dealer.
It is important to mention that the Pakistani Rupee appreciates when a lesser amount of rupees is required to get one USD whereas PKR depreciates when more rupees are required to get one greenback.
PM Shehbaz invites Chaudhry Nisar to rejoin PML-N
- 5 hours ago

Security forces eliminate two Indian-sponsored terrorists in Balochistan
- 6 hours ago

Karachi sea claims another life despite safety warnings
- 3 hours ago
‘Sardar Ji 3’ breaks records with historic Rs45m opening in Pakistan
- 5 hours ago
Gas prices to rise from July 1, OGRA issues notification
- 6 hours ago

Strong quake rocks Balochistan's Musakhel district
- 8 hours ago

20 children die at Pakpattan DHQ: Investigation complete, report due July 2
- 3 hours ago
President Zardari finalizes IHC judges’ seniority list
- 6 hours ago
WhatsApp introduces built-in document scanner for Android users
- 6 hours ago
Russia launches largest air assault on Ukraine; F-16 jet destroyed
- 6 hours ago

NDMA issues flood alert as heavy rains expected across Pakistan
- 8 hours ago
Govt unveils app to cut electricity theft, ensure fair billing
- 8 hours ago