Sehar Timings Mar 29 - Ramazan 18

Lahore
LHR
04:36 AM
Karachi
KHI
05:12 AM
Islamabad
ISB
04:38 AM
Peshawar
PWR
04:42 AM
Quetta
QTA
05:07 AM

News

US dollar breaches historic Rs210 mark in interbank trade 

June 20, 2022 11:51 AM


The US dollar on the first day of the business week reached a historic high of the Rs210.03 mark after an increase of Rs2.55 in interbank trading. The US dollar closed on Monday at Rs209.96 after an increase of Rs1.21 at the closing time of interbank trading, reported 24NewsHD TV channel.

This was the first time that the US dollar crossed the Rs210 mark in the country’s interbank trading history. 

Financial experts said that the uncertainty over the deal with the International Monitory Fund (IMF) delayed keeps on putting pressure on the local currency.

https://twitter.com/StateBank_Pak/status/1538835711696293889

Since the coalition government assumed charge in April, the American currency increased by Rs26.99.

The previous close on Friday last week was Rs208.75 with the total depreciation of the Pakistani rupee -0.52 percent. 

Analysts and forex dealers said the rupee has been losing ground mainly due to the balance of payment crisis and fast-depleting foreign exchange reserves. 

As per forex traders, local banks have run out of dollars and are now borrowing from various other sources, including their own depositors, to ensure trade-related payments for their clients.

Reporter Ashraf Khan  

 



Most Read

  1. Aitchison College principal resigns over differences with Punjab governor Aitchison College principal resigns over differences with Punjab governor
  2. Man murders young sister by smothering her with pillow in Toba Tek Singh Man murders young sister by smothering her with pillow in Toba Tek Singh
  3. Aitchison College students, parents stage protest against principal’s resignation Aitchison College students, parents stage protest against principal’s resignation
  4. Tribal firefight in Gotki, Motorways section shut down Tribal firefight in Gotki, Motorways section shut down
  5. Five Chinese among six killed in Shangla suicide bombing Five Chinese among six killed in Shangla suicide bombing
  6. Transferred: Lawman bears the brunt of flagging down lawmaker Transferred: Lawman bears the brunt of flagging down lawmaker

Opinion

  1. IMEC to sabotage CPEC
    IMEC to sabotage CPEC

    By Dr Asif Channer

  2. 1947 TO FORM 47
    1947 TO FORM 47

    By Dr Asif Channer

  3. Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....
    Beijing wants to further highlight industrial sector in its country and take scientific innovation to new heights....

    By Ali Ramay

  4. Global race: China will reduce its unnecessary expenses
    Global race: China will reduce its unnecessary expenses

    By Ali Ramay

  5. Channer Pir: The Great Saint of Cholistan
    Channer Pir: The Great Saint of Cholistan

    By Dr Asif Channer

  6. Literate the Religious Illiterate
    Literate the Religious Illiterate

    By Dr Asif Channer