December 10, 2022

NEWS.net.pk

Daily News Network

Dollar reached another high against the rupee

 Dollar reached another high against the rupee, climbing past Rs194 in the interbank market, as analysts continue to express concern over the country’s rising import bill.

According to the Forex Association of Pakistan (FAP), the greenback gained Rs1.30 from Friday’s close to reach Rs194.30 around 11:30am in the interbank trade.

This development comes after a week of the rupee hitting new lows, mainly due to the country’s rising import bill.

Previous week’s data from the FAP showed that the dollar had risen to record highs against the rupee for five consecutive days, with the international currency hitting a high of Rs188.66 in the interbank market last Tuesday, then soaring to Rs190.90 on Wednesday, rising past Rs192 on Thursday and reaching Rs193.10 on Friday.