The greenback climbed by Rs1.09 against the local currency.
KARACHI The US dollar remained in an rising trend in the interbank market on the second day of business for the week.
According to reports the greenback climbed to Rs1.09 over the local currency. It was traded at a rate of the rate of Rs239.
The greenback is currently on an upward trend even with State Bank of Pakistan (SBP) receiving the funds it needs from the International Monetary Fund (IMF).
Related: Dollar goes down a little, but stays near its 20-year high before Fed meeting.
Experts believe that the nation’s borrowing requirements are likely to rise as a result of the massive destruction due to flash flooding that will increase the cost of imports.
In the week prior the rupee lost value over the course of five sessions, resulting in a total decline of 3.7 percent to close at 236.84 which is a bit close to the all-time low that is 239.94 on the market for interbank transactions.
