Daily Times

The US dollar breached Rs156-mark against Pakistani rupee after almost three months on Monday after the local currency depreciated by 45 paisas (-0.29 percent) against the greenback in the interbank. According to the State Bank of Pakistan, the US dollar opened at Rs155.74 and closed at Rs156.19. Last time, the dollar fell below Rs156 mark on March 17, 2021 when the rupee made a gain of Rs0.98 and dollar weakened to Rs155.74 from Rs156.72. Within the open market, the US dollar was traded at Rs155.90/156.30. Pakistani rupee shed Rs1.12 against the US dollar during last week. However, the local unit has gained Rs12.85 against the greenback in the current fiscal year 2020-21 while appreciation has been Rs3.64 in 2021. The currency experts said that owing to demand for import and corporate payments, the rupee remained under pressure. They said as the fiscal year 2020-21 is ending on June 30, the demand for the foreign currency is usually high as corporate entities repatriate profit and dividends.