The US dollar rose to a high of 10 months and was traded on Tuesday at Rs164. In October 2020, the last time the dollar was reported at this level.
The government is scheduled to export 100 million doses of coronavirus vaccine in the next months, according to Forex Association of the Chairman, Malik Bostan.
He claimed that payments for imports in dollars enhanced their demand and increased their prices. In FY2020, the trade imbalance was over 33 percent greater than in FY2019, which also decreased the dollar rupee.