US dollar continues climb against Pak rupee, edges up to Rs167 in interbank

KARACHI: The United States (US) dollar gained Rs0.22 against the Pakistani rupee in the interbank market on Thursday, ARY News reported.

According to forex dealers, the greenback is currently trading at Rs167 against the domestic currency at the interbank foreign exchange market.

The dollar had finished at Rs166.78 against the local unit the other day.

Meanwhile, the greenback was mired at a more than two-year low on Thursday, as investors grew increasingly worried about the economic drag of surging coronavirus cases in the United States.

Against a basket of currencies =USD the dollar was pinned close to its lowest since mid-2018 at 93.344, while Antipodean currencies were poised near multi-month peaks.

Against the euro EUR=EBS, the greenback was just above a 22-month low of $1.1807 touched overnight. The greenback is set for its worst month in a decade on the common currency.

The safe haven yen JPY= sat at 105.07 per dollar, having hit a four-and-a-half-month high of 104.77 on Wednesday.

The greenback has lost 4.6% of its value against the euro and 2.7% against the yen in July and slid 7% against a basket of currencies since mid May =USD.

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