Dollar climbs to Rs153.22 as rupee struggles for third day


Pakistani rupee continued losing streak against the US dollar for the third straight day on Wednesday and was weakened by another 33 paisas (-0.22 percent) in the interbank.

According to the State Bank of Pakistan, the US dollar opened atRs152.89 and closed at Rs153.22.

The local currency has shed Rs0.94 against the greenback during the last three days. Within the open market, rupee was traded at 153/153.80 per dollar.

The local unit has gained Rs14.84 against the greenback in the current fiscal year 2020-21 while appreciation has been Rs6.62 in 2021.

The currency dealers said that demand for dollars remained higher for the third straight day.

They said that acceleration in economy has increased demand for imported raw and finished goods. They were of the view that demand is expected to come down in coming days.—TLTP