US dollar rate in Pakistan on February 2

• The buying rate of the US dollar was Rs160.1, while its selling rate was Rs160.1
  
• On Monday, the dealers said that the rupee fell versus the greenback in the interbank market due to increased demand for the dollars
  
• Although the rupee seems stable, any spike in international oil prices will make import payments higher, driving down the local unit

KARACHI: The buying rate of the US dollar was Rs160.1, while its selling rate was Rs160.1 on Tuesday, February 2 at the closing of the currency market.

On Monday, the dealers said that the rupee fell versus the greenback in the interbank market due to increased demand for the dollars for imports and debt repayments.

“In addition to the import payments, there were debt repayments of around $18 million to the International Monetary Fund’s Extended Fund Facility, which pulled the rupee lower,” a foreign exchange dealer said.

Read more: US dollar sold at Rs160.8 in Pakistan on February 1

“Though the rupee seems stable, any spike in international oil prices will make import payments higher, driving down the local unit,” said another dealer. 

Meanwhile, the following were the rates of the US Dollar, Saudi Riyal, UK Pound, the UAE's Dirham, and other foreign currencies in the open market.

The information has been obtained from the Forex Association of Pakistan.