US dollar rate in Pakistan on April 16 up by Re0.17 to Rs278.29

KARACHI: The US dollar rate in Pakistan on April 16 strengthened by Re0.17 to Rs278.29 against the Pakistani rupee in the interbank market on Tuesday (April 16) as per the State Bank of Pakistan (SBP).

Internationally, the US dollar stood just off its highest since early November against a handful of peer currencies on Tuesday, raising intervention worries as the yen languished at its lowest level since 1990 following hotter-than-expected US retail sales.

In the US, retail sales rose 0.7% last month, compared with the 0.3% rise that economists polled by Reuters had forecast.