The US greenback continued to hit new heights in opposition to a weakening Pakistani rupee, and reached the 305 stage throughout buying and selling because the hole with the inter-bank charge widened additional.
The Pakistani rupee has discovered itself on a rollercoaster journey but once more in opposition to the mighty US greenback.
The greenback crossed an unprecedented milestone, hovering previous the Rs305 mark within the inter-bank alternate, because the rupee weakened by one other 80 paisas in opposition to the buck.
With every passing day, the rupee’s worth appears to be taking a free fall, leaving economists and residents alike in a state of astonishment.
Because the greenback continues to flex its muscle tissue, the implications are far-reaching.
The US greenback continues its regular flight upwards because the Pakistani rupee faces record-breaking battering within the foreign money alternate market.
The American foreign money shattered information additional because it opened the brand new buying and selling session on Wednesday morning with a surge of 70 paisas within the interbank market.
It traded at a file worth of Rs303.75 in opposition to the native foreign money.
Nevertheless, a short time later, the worth of the rupee slumped by Rs1.40 in opposition to the mighty buck, and it reached the file worth of Rs304.45 in interbank buying and selling, in accordance with foreign money sellers.
Within the open market additionally, the US foreign money has reached historic excessive ranges because it jumped to Rs322 with a rise of Rs3 in simply at some point.
Through the 19 days of the interim authorities, the US greenback has appreciated by Rs27 within the open market to date. In interbank commerce, the American foreign money has gained Rs16.5 through the sane interval.