Dollar makes history against Pakistan Rupee
The US dollar set a new record in the country’s history as it was traded for Rs168.30 in inter-bank exchange rate after a gain of 97 paisas, reported 24NewsHD TV channel on Monday.
But it wasn’t just the dollar as the euro was up by Rs2.36 and the pound sterling by Rs1.87 during a session where the rupee was bulldozed by the world’s top currencies.
By the timing trading was closed, the euro was available for Rs192.90 and the pound for Rs211.76.
Meanwhile, the Friday’s record-shattering performance means the dollar has now gained Rs1.63 during the last three business days.
On the other hand, the dollar closed Friday at Rs1.68.80 in open market after gaining Rs1.20. Similarly, the euro was available for Rs191 with a gain of Rs1.50 while the Rs1 means the pound ended the day at Rs212.
Last week saw the dollar gaining 98 paisas in inter-bank rate and 80 paisas in open market. The euro, meanwhile, was up by Rs3.08 in inter-bank rate and Rs2 in open market.
Meanwhile, the pound closed the week a gain 52 paisas in inter-bank trading and 2 paisas in open market.
The rupee has been feeling the heat ever since the government opted for devaluation, resulting in devastating consequences for the economy with higher inflation and reduced production and consumption.