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Friday, November 8, 2024

Home Business Dollar to PKR reaches Rs304 in interbank market in fresh blow to rupee

Dollar to PKR reaches Rs304 in interbank market in fresh blow to rupee

by Our Correspondent
August 30, 2023
in Business

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KARACHI – The US dollar continued to rout Pakistani currency on Wednesday, hitting fresh all-time high of Rs304 in the interbank market.

In early trading session, the foreign currency appreciated by 95 paisas to reach Rs304 while the free fall also continued in open market as it has reached Rs318 against the rupee.

A day earlier, the US dollar’s relentless surge against the rupee showed no signs of abating, reaching record highs in both the interbank and open markets.

The dollar’s value climbed by 35 percent in the interbank market, settling at Rs303.05. In the open market, the dollar remained at a historic level of Rs316.

More to follow…