KARACHI: The dollar appreciated by Rs2.94 to make a new record high on Friday owing to weak economic indicators and high debt repayments during next two years.
The rupee ended Rs155.85 to the dollar from previous day’s closing of Rs152.91 in interbank foreign exchange market.
The interbank foreign exchange market initiate in the range of Rs153.50 and Rs153.75. The market recorded day high of Rs156.50 and low of Rs153.95 and closed at Rs155.85.
Currency experts said that the statement of the adviser to the prime minister regarding interest payment earlier in the day against foreign loan pressurized the local currency.
The exchange rate in open market also witnessed depreciation of the local currency.
The buying and selling of the dollar was recorded at Rs156.00/Rs157.50 from previous day’s closing of Rs152.50/Rs153.50 in cash ready market.