US dollar rises against Pakistani Rupee in the interbank market

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US dollar rises against Pakistani Rupee in the interbank market

KARACHI – US dollar rises against Pakistani Rupee in the interbank market, media reports have revealed.

The Pakistani depreciate against the US dollar in the interbank market and hit Rs156.28.

Pakistani Rupee lost 21 paisa against US Dollar at the early trade hours on Monday. In September, 2018, the greenback traded at Rs134 and later in November, it weighed around Rs142. At the end of previous year, the local currency traded at Rs139.40 against the dollar.

Earlier, economists had expressed fears that the rising oil prices in the international market after attacks on Saudi Arabia’s state-owned Aramco oil facilities would adversely affect the rate of US dollar. They had termed the development as “bad omen for Pakistan’s economy.”

In the previous two months, the local currency had recovered significantly against the greenback in the interbank market.