The US dollar has now broken all previous records with an increase of Rs1.65 and reached Rs204 for the first time in Pakistani interbank trading history. The US dollar fell 35 paisas against the Pakistani rupee on Monday, reaching Rs202 from Rs202.35. However, by 10:30 am, the US dollar had gained 65 paisas and had reached Rs203. Rs202.35 was the previous week’s close. The Pakistani Rupee recovered and gained 35 paisas against the US dollar in early morning interbank trading. After some time, the US dollar returned to Rs203 and is now at Rs204. Interbank closing #ExchangeRate for todayhttps://t.co/e9CU0pwK6d pic.twitter.com/2NQ0a7niDi — SBP (@StateBank_Pak) June 10, 2022 Experts predict that the local currency will remain under pressure this week due to high dollar demand for import payments ahead of the fiscal year’s end. Last week, the local currency fluctuated between 200.06 and a new record low of 202.83 per dollar. Experts attribute the rise in the US dollar and pressure on the local currency to a widening current account deficit and rapidly depleting foreign exchange reserves.