The Pakistani rupee snapped its five-day losing streak against the US dollar in the inter-bank on Thursday and recovered 94 paisa (+0.56 percent). According to the State Bank of Pakistan, the US dollar opened at Rs169.12 and closed at Rs168.18. The rupee made historic lows against the dollar during the last two sessions. Within the open market, the rupee was traded at Rs168.70/169.50 per dollar. Overall, Pakistani rupee shed Rs0.16 in the last four days against the US dollar, while depreciation during the fiscal year 2021-22 has been Rs10.74. The local unit has shed Rs7.91 against the US dollar in the current year 2021. The local currency has maintained a downtrend after it touched 22-month high of Rs152.27 in May 2021, losing a cumulative Rs15.87 in the past four months to date. Market sources said that dollar inflows were seen during the day. They believed that the State Bank of Pakistan (SBP) intervened to support the local currency. The currency experts said that the dollar’s demand remained high due to external payment, which resulted in increased dollar’s demand. The prices of oil and food items are soaring in the world markets. In addition to this, businesses are set to make hefty imports of plant and machinery to set up new factories and expand the existing production lines under the central bank’s initiative Temporary Economic Refinance Facility (TERF), they said.