Dollar rose to 122Rs at one time, closed at 121.39 in interbank market today

KARACHI: On Thursday, the rate of dollar saw a sharp increase to Rs 122 at one point, however closed on Rs121.39 in interbank foreign exchange stated the State Bank of Pakistan.

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On June 11, the US dollar closed at Rs119.84, after reaching a record high of Rs121 earlier in the day, the State Bank of Pakistan said.

According to the central bank, the movement is based on foreign exchange demand-supply gap in the interbank market, t

Increasing imports and a widening current account deficit were cited as the possible reasons for the hike in the value of the foreign currency.

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