US dollar crosses Rs161 after nearly six months

The United States (US) dollar crossed the Rs161 mark in the interbank currency market on the first day of week’s trading on Monday, hitting its highest since January 26.

The greenback appreciated Rs1.31 against the Pakistani rupee on account of high demand and closed at Rs161.48 on first business day of the week compared to previous closing of Rs159.94.

Since start of July, dollar has risen by Rs3.61. However, the greenback has lost 6.95 rupees or 4.21 percent of its value from its peak of 168.43 in August 2020.

It may be recalled that the Pakistani rupee had touched an all-time low of 168.43 against the greenback last year in August before recouping some losses to hit a 22-month high of Rs152.95 in April, 2021.

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