The US dollar reached the startling milestone of Rs200 when trading closed on Thursday afternoon, gaining Re1.00 from the previous day’s close of Rs199, data by the Forex Association of Pakistan showed.
According to FAP data, the US currency reached the all-time high of Rs200.10 around 1:45pm in the interbank market before settling to Rs200 by close. It was trading at Rs201 in the open market at 3:50pm.
Speaking about the exchange rate, FAP secretary general Zafar Paracha told media that Thursday was the “blackest day” in the history of Pakistan.
For his part, FAP chairperson Malik Bostan, urged the Federal Board of Revenue to issue statutory regulatory orders for the implementation of decisions taken to restrict imports.
