Dollar up by 20 paisa in open market
Following a 20 paisa increase in the open market, dollar is trading at Rs 139.20.
KARACHI (Dunya News) – The US Dollar on Wednesday had registered an increase of 20 paisa in open market after which green side was trading at Rs139.20.
On the other hand, the dollar value also registered an increase of 6 paisa in interbank to trade at previous Rs138.90.
Following a 20 paisa increase in the open market, dollar is trading at Rs 139.20.
On the other hand, the value of Pakistani Rupee has depreciated by around 26 percent over the year, as the greenback strengthened by Rs28.36, from Rs110.5 per USD on January 1, 2018 to Rs138.8.
The heaviest round of depreciation occurred in October when the greenback gained over PKR 9 at the interbank market, taking a leap from Rs124.3 USD to Rs133.6 per USD.
The rupee had plunged to a historical low on occasion of government’s announcement to approach the International Monetary Fund (IMF) for a bailout, given that at least 15 percent currency devaluation was recommended by the IMF.
The appreciation of dollar increased debt burden by Rs2400 billion.
