Karachi: US dollar on Thursday jumped 49 paisa in the inter-bank market to be traded at Rs173.96, weakening the rupee by -0.28%.
According to the State Bank of Pakistan (SBP), the Pakistani rupee continued to lose its ground against the US dollar for the second consecutive session in the inter-bank market depreciating by -0.28% to close the day’s trade at Rs173.96.
The demand for dollars continues to be strong owing to the pressure from importers on the back of a strong economic recovery, pushing the domestic currency lower, experts said.
Interbank closing #ExchangeRate for today: https://t.co/wqpWAXJuPw pic.twitter.com/q7sdXoK9tu
— SBP (@StateBank_Pak) October 21, 2021
Traders associated with the Forex market say the main reason for rising in the dollar rate in Pakistan on Tuesday is the increase in import bills.
Earlier Pakistani rupee had touched an all-time low of Rs163.84 against the greenback last year in October.
Gold prices stable in local markets following global trends
- 9 hours ago
Govt to revise buyback rate for solar users
- 11 hours ago
Eid preparations: Sindh to pay advance salaries on March 21
- 10 hours ago
Three Killed, one injured in shooting during Tarawih prayers in Narowal
- 6 hours ago
Remittances record 3.8pc growth in Feb 2025 month-on-month
- 6 hours ago
Iran open to nuclear talks, rejects US demand for program shutdown
- 10 hours ago
Google announces May 18 deadline for deleting location history data
- 5 hours ago
Senate chairman accepts PTI’s Sania Nishtar’s resignation
- 10 hours ago
32 injured in North Sea collision between oil tanker and cargo ship
- 7 hours ago
North Korea launches missiles hours after condemning US-South Korea drills
- 7 hours ago
F-9 park assault: Woman reaches settlement, accused granted bail
- 8 hours ago
Special Eid trains to start from 25th Ramadan, fares reduced
- 8 hours ago
