KARACHI, Pakistan - The U.S. dollar climbed past Rs194 in the interbank market in Pakistan on Monday as analysts expressed concern about the country's rising import bill.
According to the Forex Association of Pakistan (FAP), the greenback gained Rs1.30 from Friday's close to Rs194.30 in interbank trade around 11:30 am.
The dollar closed at Rs194.60, up Rs1.60 from the previous close.
This comes after the rupee fell to new lows last week, owing primarily to the country's rising import bill.
The dollar was worth Rs182.3 when the PML-N-led coalition government took power on April 11. The rupee has lost Rs11.4 or 6.2 percent of its value since then.