Dollar reaches record high of Rs148 in interbank market

Dollar reaches record high of Rs148 in interbank market

Citizens Voice Tv (Islamabad) The US dollar has further appreciated against the Pakistani rupee in the open and interbank Currency market.

According to media reports, the US dollar gained Rs6.61 against Pakistani rupee in the interbank market, rising to Rs148. In the open market, the dollar has gained Rs3, taking it to Rs147.

The exchange rate of Dollar in interbank remained constant and was traded at Rs141.39 while it appreciated by Rs2 in the open currency market, State Bank of Pakistan (SBP) reported on Wednesday.

The Pakistani rupee had depreciated to Rs146 in the open market following the rise in the dollar.

Last week, the exchange rate of Dollar in the open bank had increased by Rs2 and is being traded at Rs144. The dollar appreciated by as much as Rs3 in the open market in the last week.

According to a report, money changers said that the price of rupees is falling continuously due to which the market has become unstable, adding that people are buying a lot of Dollars, decreasing them in the market.

When PTI government was formed, the dollar was valued at Rs123, but due to continuous decline, it has now reached to over Rs144. The hike in the value of dollar comes as Pakistan and the International Monetary Fund (IMF) have reached a deal for Rs6 billion bailout package.


Related Articles

ADB sees growth at 4.8pc in FY19 amid looming challenges

ISLAMABAD: Asian Development Bank (ADB) on Wednesday projected growth at 4.8 percent for the current fiscal 2018/19, almost one percentage

Afghans risk their lives to vote in delayed Kandahar poll

Kandahar, Afghanistan: Afghans risked their lives to vote in legislative elections in southern Afghanistan on Saturday, after the Taliban-claimed killing

PM Khan sets up 18-member Economic Advisory Council

ISLAMABAD: Prime Minister Imran Khan has reconstituted the Economic Advisory Council (EAC), according to a notification issued on Saturday. The