US dollar reaches new high against Pakistani Rupee
The Pakistani Rupee continues to tumble against the US Dollar on Tuesday and with an increase of Rs1.07 reached at Rs167.65 in inter-bank rate, reported 24NewsHD TV channel.
According to Forex traders, the US dollar gained Rs1.07 at the closing time of inter-bank trading.
While the US dollar with an increase of Rs1 against the Pakistani rupee reached at Rs 168 in the open market, the highest ever, according to the forex dealers.
The US Dollar continued to hit Pakistani Rupee when coronavirus cases in Pakistan keep growing and at one of the fastest rates in the world. The Pakistani rupee has been constantly losing its value against the US dollar at the time when the government has imposed selective lockdown to contain the virus while markets are allowed to remain open in an attempt to save the devastated economy.
Earlier in the day, the US dollar gained 53 paisas against the Pakistani rupee in inter-bank trading.
The Pakistani Rupee continues to trend lower versus the US Dollar at the start of the week on Monday and has lost Rs4.37 against the dollar in four days.
Meanwhile, Euro gained 50 paisas against Pakistan Rupee and was being traded for 187.50. Likewise, British pound also gained a value of Rs2 and a single piound was being traded for Rs210.