Greenback breaks all previous records, scales past Rs 300 in Pakistan’s interbank market
American currency gains 61 paisas in interbank market, trades for Rs300.25 at start of trading on Thursday
The American dollar continued its upward trajectory against the Pakistani rupee on Thursday, crossing the barrier of Rs300 during morning trade in the interbank market.
At the start of trading on Thursday, the greenback broke all previous records, gained a further 61 paisas and reached Rs300.25 milestone in the interbank market for the very first time.
The greenback was changing hands in the interbank market at Rs300.4 by midday, according to the Forex Association of Pakistan. In the open market, the dollar was trading at Rs314.
On Wednesday, the dollar closed at Rs299.64, according to daily data released by the State Bank of Pakistan. In two weeks, the dollar has gained a staggering Rs13 in the interbank market. In the open market also, the currency gained Rs18 since the caretaker government was installed.
Yesterday, the Pakistani rupee hit a new low against the US dollar and traded for Rs 299.50 in the inter-bank market.
On Tuesday, the American currency thrashed all previous records and recorded an increase in value by Rs8 to trade at Rs312, reaching its highest peak in the history of Pakistan’s open market.
According to State Bank of Pakistan’s (SBP) data, the currency depreciated by 0.63%, or Rs1.88, to Rs299.01 against the greenback.
On Wednesday, the dollar gained a further 50 paisas in the interbank market, as per currency dealers. They added that the greenback was being traded for Rs299.50.
In the open market, the US currency strengthened by a further Rs3 to trade at Rs310. On the other hand, the British pound is being traded in the interbank market for Rs382.34, the euro for Rs326.5, the UAE dirham Rs81.41, Saudi riyal Rs79.72, Australian dollar Rs192.46, and Canadian dollar Rs220.9, as per the rates updated by forex.pk. – Web Desk / News Agencies
