The rupee began the week under pressure on Monday, losing Rs2.01 against the US dollar in the interbank market. According to the State Bank of Pakistan, the local currency closed at Rs216.66 per dollar versus Friday’s closing rate of Rs214.65. “Commercial banks are also buying dollars at high rates, which is causing the greenback’s value to rise. The central bank must control commercial banks in this regard to halt the rise in the dollar’s value,” FAP Chairman Malik Bostan said.
