KARACHI: The US dollar has inched up to make new high at Rs171.20 in the interbank foreign exchange market on Thursday.
Currency experts said that dollar demand for foreign payment remained high due enhanced economic activities and rise in international commodity prices.
The import bill registered a sharp growth of 65 per cent to $18.63 billion during first quarter (July – September) of the current fiscal year as compared with $11.28 billion in the corresponding quarter of the last fiscal year.
The local currency remained under pressure since start of the current fiscal year. The local unit has lost Rs13.66 or 8.67 per cent against the dollar from Rs157.54 on June 30, 2021 to Rs171.20 to date.