The United States dollar continued its gains against the rupee on Wednesday in the intraday trade as it rose by a further Rs0.8 to reach Rs158.6 by 4:26 pm in the interbank market. In percentage terms, this showed an increase of 0.51 percent over Rs157.8 at the day’s beginning.
After staying steady for around six months, the greenback began rising on Monday and posted a sharp jump of Rs3.65 (or 2.36pc) to reach Rs157.9 by the day’s end.
The open market also noticed an upward movement as the dollar rose by Re1 to Rs158 during intraday trade today. Much of this change can be attributed to foreigners unloading their positions in the equity and debt markets.
“International investors have been selling their stakes in the stock exchange, which has created a demand for dollars. The T-bills, which attracted hot money inflows, are also set to mature in less than a week,” said former general secretary of Exchange Companies of Pakistan, Zafar Paracha.
“The rupee shouldn’t have lost value as the dollar itself has declined against the euro but the coronavirus outbreak has induced part panic, part speculation among investors,” he added.
Thursday, April 30, 2026
