On the fifth day of the business week, the value of the US dollar against the Pakistani Rupee (PKR) has once again risen, generating alarm among traders and the general public.
As the PKR continues to fall in value, the dollar gained Rs0.46 in the interbank market today, pushing it to a record high of 306 rupees.
The value of the US dollar has reached an all-time high, rising by a whopping 30 rupees in just 20 days.
On Thursday, the dollar rate increased by Rs3 in the open currency market, reaching an amazing conversion rate of Rs 325.
The US dollar continued to rise against a falling Pakistani rupee, reaching 305 during trade as the difference with the inter-bank rate extended further.
The Pakistani rupee is once again on a rollercoaster ride versus the mighty US dollar.
The dollar soared beyond the Rs305 mark in interbank trading, as the rupee fell further 80 paisas versus the greenback.
The rupee’s value seemed to be plummeting with each passing day, shocking both economists and citizens alike.
The repercussions of the dollar’s continued strength are far-reaching.
The US dollar broke yet another record as it launched the new trading session on Wednesday morning with a 70-paisa jump in the interbank market.
It reached a high of Rs303.75 versus the native currency.
However, the rupee fell by Rs1.40 versus the powerful greenback a short time later, reaching a record value of Rs304.45 in interbank trading, according to currency dealers.
In the open market, the US dollar has also touched new highs, rising to Rs322 in just one day, an increase of Rs3.
So far, the US dollar has gained Rs27 in the open market during the interim government’s 19 days in office. During the normal period, the American currency earned Rs16.5 in interbank trade.
The dollar’s steady increase against the Pakistani rupee continued on Tuesday, reaching record highs in both the interbank and open markets on the second day of the business week.
In the interbank market, the dollar reached an all-time high of Rs303. The dollar was also trading at a historic level of Rs316 on the open market.