The US Dollar on Monday continued its surge against the rupee as it created a new high on Monday, rising to Rs169.60 in the interbank market.

According to the State Bank of Pakistan (SBP) the greenback closed at Rs169.60 on first business day of the week compared to previous closing of Rs169.08.

In the open market, the rupee closed at Rs171 against the US dollar. The previous all time-low was Rs169.12.

The rupee skidded to a record low of Rs169.12 on Sept 16 before recouping some losses after the intervention of the central bank.

Since the start of September the dollar increased by Rs3.21.

Meanwhile, the currency lost 56 paisa to the Pound Sterling as the day s closing quote stood at PKR 232.35 per GBP, while the previous session closed at PKR 231.79 per GBP.

On the other hand, PKR s value strengthened by 5 paisa against EUR which closed at PKR 198.38 at the interbank today.