Dollar reaches all-time high at Rs155.84 after an increase of Rs2.94 in interbank
KARACHI (92 News) – The dollar price reached all-time high of Rs155.84 after gaining Rs2.94 in the interbank market on Friday.
In the open market, the dollar also increased by Rs4 and reached Rs157.50 from 153.50. However, during the five days, the rupee value has been decreased by Rs7.24.
The analyst said that the country’s debts loans have also increased worth of billions rupees due to devaluation of the rupees.
A day earlier, the dollar price reached all-time high of Rs152.90 after gaining Rs1.34 in the interbank market. In the open market, greenback also increased by Rs 1.50 and reached Rs153.50.
On the other hand, Pakistan Stock Exchange witnessed a positive trend and gained strength. 10 index was strengthened by 465 points and reached 35,403.
Meanwhile, the value of gold was also increased by record Rs2,700 per tola, reaching Rs75,900 per tola.
On Wednesday, the dollar price jumped to Rs151.95 after a 48-paisa increase in the interbank market.
On the other hand, a positive trend was witnessed in Pakistan Stock Market. 100 index gained 400 points and crossed the psychological level of 35,000. In the open market, dollar reached Rs152.50 from Rs152 with an increase of 50 paisa.
On Tuesday, the US dollar had witnessed a 40-paisa increase and reached Rs150.50 from Rs150.10 in the interbank market. According to the forex dealers, Pakistan Stock Market lost 165 points in the start of the business and 100 index reached 34,410.
On Monday, the dollar rate had increased by Rs 2.70 in the open market and was sold at Rs 151.50. In the interbank market, the dollar was increased by Rs 1.90 and as a result, its price rose to Rs 150.10 from Rs 148.60.
According to Forex dealers, a decrease has also been witnessed in the Pakistan Stock Market. 100 index lost over 750 points and reached 34,750. Before the Eid holidays, the trade was closed at Rs 148.60.
Last month, the rupee registered record lows against the US dollar following the announcement of a $6 billion bailout agreement with the International Monetary Fund foreseeing a ‘market-determined rate’ for the Pakistani currency.