US dollar hit all-time high of Rs 209.96 in interbank market

KARACHI (92 News) - The US dollar reached a record high of Rs209.96 against the rupee in the inter-bank market. 

At the start of the business week, In the interbank market, the dollar rose by one rupee to 45 paise. The price has gone up to Rs. 210/10 paise. Even in the open market, the dollar has gone out of control, selling up to Rs213.50.

The devaluation of the rupee has added hundreds of billions of rupees to the country's debt. The non-resumption of the IMF program has left the dollar unchecked given its low foreign exchange reserves and uncertainty.

Economists have called on the government to take immediate action.

On the other hand, 100-index of the Pakistan Stock Market witnessed a decrease of 363 points. Meanwhile, the gold price increased by Rs1,450 poer tola and reached at Rs147,250 per tola.