Dollar climbs to Rs153.87

Observer Report

Pakistani rupee continued losing streak against the US dollar for the fifth straight day on Friday and was weakened by another 41 paisas (-0.27 percent) in the interbank.

According to the State Bank of Pakistan, the US dollar opened at Rs153.46and closed at Rs153.87. Within the open market, rupee was traded at 153.50/154.50 per dollar.

The rupee has lost Rs1.05 against the greenback during this week, while it hasgained Rs14.18 against the greenback in fiscal year 2020-21 and appreciation has been Rs5.96 in the current year.

Currency dealers said that the market witnessed demand for the foreign currency due to two weekly holidays ahead.

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