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US dollar reaches Rs158.80 after 80-paisa hike in interbank

US dollar reaches Rs158.80 after 80-paisa hike in interbank
July 11, 2019
KARACHI (92 News) – The US dollar reached Rs158.80 after an 80-paisa increase in the interbank Thursday. Meanwhile, stock markets opened in green as registering a gain of around 50 points at KSE 100 Index in morning trade. On Wednesday, the US dollar reached Rs157.88 after a 51-paisa increase in the interbank. In the open market, the dollar price increased by 70 paisas and it was traded at Rs158.50. On the other hand, the gold price was increased by Rs1,300 per tola and reached Rs80,300 per tola. Meanwhile, 100 index closed at 33,840 with a decrease of 15 points. On Monday, US dollar was increased by Re0.38  and reached Rs157.30. On Friday, it had witnessed a light increase of 19 paisa to touch Rs156.75 in the interbank market. In initial trading hours, the dollar slightly moved upward by 44 paisa in interbank market. While the US dollar slipped by Rs1.11 to touch the mark of Rs156.50 in the interbank on Thursday last, strengthening Pakistani rupee that had witnessed continuous devaluation two weeks ago. The dollar had closed at Rs157.61 in the interbank market on Wednesday last week last as rupee regained its value by 72 paisa. Pakistani currency has been most of the time facing devaluation against the US currency in currency markets, pushing the inflation on upward trajectory.
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