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.
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