Dollar maintains record high level in interbank

Dollar maintains record high level in interbank

KARACHI: The dollar maintained the highest peak against the Pak Rupee in the interbank foreign exchange market on Tuesday.

The rupee ended Rs170.80 to the dollar, which is also the same previous day’s closing level in the interbank foreign exchange market. The dollar is at the highest level against the local unit.

Currency experts said that a day earlier the State Bank of Pakistan (SBP) took another measure to support the rupee. The central bank reduced the retention period of foreign exchange by exporters from five days to three days.

They said that the dollar demand for import payment remained high. The dollar demand had increased further after the reports of 65 per cent growth in import bill during the first quarter of the current fiscal year.

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