Dollar continues to rise against Pakistani rupee in inter-bank market

KARCHI: The US dollar continued to rise against the Pakistani rupee on Friday reaching a fresh high of Rs177.71 after appreciating by 10 paisas in inter-bank market.

According to the statement issued by the State Bank of Pakistan (SBP), the dollar rate has been increased by 10 pasias in the inter-bank trade. The Pakistani rupee continued to slide as the currency reached to Rs177.71 against the dollar.

Interbank closing #ExchangeRate for today:https://t.co/7k4TteKJvg pic.twitter.com/ErX388OS1r

— SBP (@StateBank_Pak) December 10, 2021

A day earlier, the value of US dollar had soared to Rs177.61 in the interbank market during intraday trading. In the open market, the dollar price had increased by 50 paisas and reached at Rs180.

The benchmark KSE-100 had witnessed a decrease of over 500 points and was closed at 43,000 points. As a result, investors had suffered heavy losses.