Dollar rises to Rs164.19 in interbank

Dollar rises to Rs164.19 in interbank

KARACHI: The US dollar appreciated by 19 paisas to the Pak Rupee on Monday owing to higher demand for import payments.

The rupee ended at Rs164.19 to the dollar from last Friday’s closing of Rs164.00 in the interbank foreign exchange market.

The dollar is about 10 months and nine days high against the rupee. The current exchange rate was seen on October 07, 2020.

Currency experts said that the market witnessed high demand of the dollar for import payments as two holidays will be observed during the current week.

The government has announced public holidays on August 18-19, 2021 on account of Ashura e Muharram.

The experts said that rupee was under pressure due to rise in international oil price and uptick in domestic demand for finished products and raw material.

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