Rupee helpless as dollar hits all-time high at Rs 169.11

KARACHI (92 News) – The rupee seems to be helpless against the dollar that continued to increase on daily basis , with up to a 76-paisa gain during the trading on Wednesday.

On the intervention of the State Bank of Pakistan, the dollar lost its value a little bit. The dollar reached at Rs 169.11 after breaking the last day record in the interbank. During the last four months, the dollar has increased by Rs 17.22 in the interbank.

In the open market, the dollar crossed Rs 170, with a gain of 90 paisas. It was closed at Rs 170.50 in the open market.

On Tuesday, the dollar had hit its previous high of Rs168.95, shattering the investors’ confidence in the local currency and exchange rate stability.

On May 7, 2021, the dollar was closed at Rs 152.28 in the interbank.