Karachi: The dollar, pound, euro, and Saudi riyal continued to fly in the interbank market last week.
During the week, the dollar rose by Rs 1.16 to Rs 175.86 in the interbank market and remained unchanged at Rs 178.50 in the open market.
Similarly, the interbank rate of the British pound increased by Rs 2.70 to Rs 239.65 while the value of the British pound increased by Rs 1 to Rs 241 in the open market.
In the interbank market, the value of the euro currency increased by 89 paise to Rs 200, while in the open market, the value of the euro decreased by Rs 1 to Rs 201. Similarly, in the interbank market, the value of Saudi Riyal increased by 30 paise to Rs 46.87, while in the open market, the value of Saudi Riyal increased. 5 paise to Rs 47.05.
The dollar continued to fly last week due to pressure from external payments and demand. The dollar also weakened in some sessions of the week. Experts say uncertainty has also helped keep the dollar afloat.
Rising global prices for crude oil, coal, and other commodities pushed up the value of the dollar, and volatile crude oil prices continued to weigh on foreign exchange markets. Demand for the dollar increased as import bills and the current account deficit widened.
