Dollar maintains Rs164 in interbank

Dollar maintains Rs164 in interbank

KARACHI: The US dollar remained at Rs164 to the dollar on Friday as demand for import payments persisted.

The Pak Rupee closed at Rs164 to the dollar from the previous day’s closing of Rs164.01 in the interbank foreign exchange market.

Currency experts said that the market witnessed higher demand for the dollar on the last trading day. However, the statements of the finance minister made a day earlier had sent positive signals to the market.

The finance minister on August 12, 2021 at a press conference said that Pakistan would receive $2.77 billion from the International Monetary Fund (IMF) on August 23, 2021.

He said that the inflows would ease pressure on the external sector. The local currency is still at a 10-month low against the dollar.

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