Dollar makes new high at Rs164.06

Dollar makes new high at Rs164.06

KARACHI: The deterioration in Pak Rupee continued against dollar on Thursday as the foreign currency made a new high at Rs164.06 in interbank foreign exchange market.

The rupee fell by Rs1.09 to end at Rs164.06 to the dollar as compared with previous day’s closing of Rs162.17 in interbank foreign exchange market.

The foreign exchange market initiated in the range of Rs164.00 and Rs164.50. The market witnessed day high of Rd164.25 and low at Rs163.80 to the dollar in interbank foreign exchange market.

Currency experts said that due to closing of fiscal year by June 30 put the pressure on dollar buying for import and corporate payments.

The exchange rate in open market also witnessed depreciation of the local unit.

The buying and selling of dollar was recorded at Rs162.50/Rs163.50 as compared with last day’s closing of Rs162.00/Rs163.00 in cash ready market.

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