Dollar rate hits historic high at Rs142
Last updated on: 30 November,2018 08:49 pm
Dollar is fluctuating between Rs140 and Rs142 in open market.
KARACHI (Dunya News) - Dollar value shot up by as much as Rs8 in the interbank market during trading on Friday after which its value has reached Rs142.
According to details, dollar is fluctuating between Rs140 and Rs142 in open market.
The second surge has shown a rise in dollar to burden debts by Rs 760 billion.
Earlier, on October 9, local currency began to depreciate against dollar and reached at the nerve-racking level of Rs. 138 after an increase of Rs.10.28 in interbank market and Rs. 11.20 in open markets.
Following this sharp increase in the dollar value, in a short span, an increase of 8.20 pc is being recorded in the value of dollar against rupee. The slide recorded during October, was the second biggest slide in single session, first was witnessed in 1999 on May 19, when the rupee depicted a slide of 10 percent.
The experts are of the view that in PM Imran Khan led government, rupee has seen an abysmal downfall which has surged debts up to Rs. 975 billion.