KARACHI: The US dollar reached Rs167.20 during early day trading on Friday. The greenback further gained 22 paisas against the Pak Rupee (PKR) in the early trade. The foreign currency was ended last day at Rs166.98 in the interbank foreign exchange market.
The dollar made gains for the last four consecutive days against the PKR during this week. The higher import payment demand on the last trading day kept the pressure on the local currency.
Currency experts said that dollar demand for external payments remained high. They said that the rising deficit in trade and the current account is also a major concern for the market.
They said that the country needed an immediate flow of the foreign currency to discharge external payment liabilities without pressure on the exchange rate.
The local unit lost Rs1.63 against the dollar during the past four trading days. The exchange rate was closed at Rs165.62 on August 27, 2021.
