Dollar surges to record Rs303 in interbank market

Rupee’s depreciation against dollar continues

KARACHI: The unyielding surge of the US dollar against the Pakistani rupee remains unchecked, breaking previous records in both the interbank and open markets during the second day of the business week.

The value of the US dollar has now reached an unprecedented peak of 303 rupees in the interbank market.

In the open market, the US dollar continues to maintain its historically high level at Rs316.

This striking and rapid increase follows a challenging 18-day period during the caretaker government’s administration, during which the US dollar underwent an astonishing 15-rupee increase in value.

This constant fluctuation has cast a shadow over the financial landscape, with each passing day bringing about a persistent devaluation of the Pakistani rupee.

Within a remarkably short span of two weeks, the US dollar has seen a remarkable appreciation of 13 rupees in the interbank market and 20 rupees in the open market.

On the previous day, the rupee concluded at its lowest point ever against the US dollar, ending the day at 302 rupees.



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