ISLAMABAD – The dollar is on the rise and has reached a two-week high, up70 paisa from the level it was trading in middle of last week.
The greenback was trading at Rs139.5 in the opening hours of trade onMonday, the level it last touched on February 28.
With more dollars flowing in from the UAE, which dispatched $1 billion tothe State Bank of Pakistan last week, the dollar mostly traded at or belowRs139. However, in the last few trading sessions it went up again and isnow inching towards its all-time closing high of Rs140.3, the level it hitin November last year.
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In 2018, the dollar appreciated 27% against the rupee, witnessing two ofits biggest ever single day jumps in the short span of one and a halfmonths. It was one of the most volatile years in terms of exchange rateuncertainty.
