The US dollar on Friday reached a record high against the rupee at
$1 =Rs168.50 before falling lower than Thursday’s price to finally close at $1=Rs165.54 in the interbank market.
$1 =Rs168.50 before falling lower than Thursday’s price to finally close at $1=Rs165.54 in the interbank market.
This represented a slight gain of 59 paisas in the local currency, compared to the opening value of Rs166.13.
Over the shortened week, the exchange rate has seen significant movement with the dollar jumping by Rs6.53 from Rs159.01 on Tuesday, which represents an increase of 4.1pc.
Bankers said that the dollar was traded as high as Rs168.50 during the session on Friday but intervention from the State Bank of Pakistan forced the rupee to make some gains
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