Pro IQRA News Updates.
Rupee depreciates further, dollar up Rs 18.98, closes at 285.09 paisa
Islamabad (92 News) – Due to the uncertainty in the foreign exchange market due to the delay in the agreement with the IMF, the dollar reached the highest level in the country’s history.
The dollar rose from early trading on Thursday. By the end of the day, the dollar had appreciated by 18 rupees 98 paise and 285 rupees 9 paise in the interbank market The situation remained the same in the open market, the dollar closed at 288 rupees with an increase of 14 rupees.
Currency traders say banks’ dollar-rupee exchange rate, and the news of interest rate hikes, led to the increase in the dollar’s value.
On the other hand, if we talk about the last 10 months, the value of the dollar has increased by more than 100 rupees, the dollar has become expensive by 102 rupees 16 paisa in the interbank market, while the dollar has become expensive by 103 rupees in the open market.
On April 11, the dollar was trading at the level of 183 rupees in the interbank market, while the dollar was trading at 185 rupees in the open market and since the arrival of the current government, the dollar has become more expensive than 100 rupees.
.