US dollar inches towards Rs189 against Pak rupee

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The US dollar continued its upward spiral and reached Rs188.20 from Rs187.53 with an increase of 67 paisa against Pakistani rupee at the opening time of the interbank trading on Tuesday.

The interbank trading of the US dollar and Pakistani rupee on the second day of the business week saw the unprecedented fluctuations as the federal government has not now inked any dead with international lender IMF.

Economic experts said that the US dollar which has become the lifeline of the economy, there is an immediate need to stabilise the currency bringing rupee-dollar parity value.

According to the State Bank of Pakistan (SBP) the dollar closed at Rs187.53 on Tuesday, a rise of 90 paise over the last closing. On May 6, the US currency appreciated by 94 paise to Rs186.63.

 

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