US dollar crashes by Rs1.12 against Pakistani rupee
The price of the US dollar, which continued to soar against the Pakistan Rupee in the last couple of months, and particularly in the recent last few days, fell by Rs1.12 at interbank on Monday, thus reaching Rs161. 20 from the previous Rs162.32 after the plunge, reported 24NewsHD TV channel.
It was only seven days ago, on July 19, 2021, that the price of one US dollar had increased by a record Rs1.54 and crossed the psychological mark of Rs161 against the Pakistani rupee.
The new price of the US dollar reached Rs161.48 at the closing time of the inter-bank trading on Monday.
The experts say the dollar surge also increased the foreign loans and import tax as well. Exports also said that the other factors in the dollar value uptick were due to the increases in demand that put pressure on the Pakistani rupee.
The US dollar earlier in the day reached Rs161.80 after an initial increase of 86 paisa. Since the month of July 2021 the dollar price has increased from Rs157.54 to Rs161.48. Forex traders say the U.S dollar has increased by Rs3.94 since July 2021.
Reporter: Ashraf Khan