US dollar hits all-time high against rupee
Business
The open market witnessed the dollar’s value hitting Rs300
LAHORE (Web Desk) – The US dollar on Monday hit an all-time high against crumbling Pakistani rupee, setting a new record in the interbank market.
Amid the economic meltdown and political instability, rupee fell to an all-time low and breached the 300-rupee mark, reaching a record high of 302 rupees.
The open market witnessed the dollar’s value hitting 300 rupees.
The upward movement in the dollar’s value signifies the continuation of the rupee’s devaluation trend, setting a challenging tone for the week ahead.
The green back’s upward trajectory against the Pakistani rupee showed no signs of slow down as at the start of the new business week, the dollar shot by 0.75 paisas, touching a staggering 301.75 rupees, according to currency dealers.
During the previous week, the rupee demonstrated consistent weakness, recording losses in all five trading sessions and ultimately reaching an unprecedented low of 301 against the US dollar
