Dollar hits all-time high against rupee, reaches Rs 118.5
Dollar gains 50 paisa on first day of trading week
KARACHI (Dunya News) – The government’s claim to rein in surge in dollar’s value versus rupee failed miserably on Monday, with an increase of fifty paisa in the value of US dollar to reach at an all-time high of Rs 118.50 on the first day of the trading week.
A few days ago, Adviser to Prime Minister on Revenue Miftah Ismail had said that there would be no further depreciation of rupee.
During the last four month, dollar gained 10 percent in value versus rupee, overburdening the country’s import bill.
The State Bank of Pakistan summoned a meeting of foreign exchange companies to control the surge in the value of dollar. The meeting decided to keep value of dollar steady.
