Pakistani Rupee
ISLAMABAD: The gap between the inter-bank rate and market exchange rate continues to widen as the US dollar maintains its upward surge against the weakening Pakistani rupee. During trading, the dollar reached the 305 level, marking a significant increase.
The rupee’s value has been on a volatile decline against the robust US dollar, leaving economists and citizens astonished. The consequences of the dollar’s strength are far-reaching.
In a new trading session, the American currency opened with a 70 paisas surge in the interbank market, trading at a record value of Rs303.75 against the local currency. Shortly after, the rupee’s value decreased by Rs1.40 against the dollar, reaching a record Rs304.45 in interbank trading.
In the open market, the US currency also reached historic highs, surging to Rs326 with a daily increase of Rs3. During the interim government’s 19 days, the US dollar has appreciated by Rs27 in the open market and Rs16.5 in interbank trade.
This relentless surge in the dollar’s value against the Pakistani rupee has shown no signs of abating, reaching record highs in both the interbank and open markets on consecutive days. In the interbank market, the dollar reached an all-time high of Rs303, while in the open market, it traded at a historic level of Rs316.
