Khawaja Asif shared a picture of hotel bill on Twitter and pointed out how they have started charging in dollars instead of rupees.
Islamabad (Pakistan Point News – 27th June, 2019) Some five-star hotels, including Pearl Continental Hotel Muzaffarabad and Rawalpindi, have started booking in Dollars following the devaluation of Pakistani rupee.
Pakistan Muslim League-Nawaz (PML-N) leader Khawaja Asif shared a picture of hotel bill on Twitter and pointed out how they have started charging in dollars instead of rupees.
Sharing his PC Hotel bill on Twitter, he said that due to devaluation of Pakistani rupee, the five-star hotel has refused to receive payments in rupees.
The devaluation of Pakistani rupee continues as Dollar gained Rs1.84 in the interbank on Thursday.
The value of US dollar has soared to a new high of Rs164.
Dollar is being traded at record Rs164 high in the interbank market.
The Pakistani rupee hit all time low against the US dollar as it lost Rs5 on Wednesday in the interbank market, rising to a record high of Rs163.
According to forex dealers, the US dollar increased from Rs156.98 to Rs160 at the start of the trading day and then to Rs163.
The interbank rate is the benchmark rate to determine the value of dollar and sets the direction for open market rates. Since open market or cash market rate usually remains higher than the interbank rate, the open market is likely to follow a similar trend.
Within just a week, the greenback spiked to new tops with a massive increase of Rs8.25, which in consequence has soared Pakistan's external debts by Rs820 billion.
In the previous week, Pakistani rupee was depreciated by 4.9 percent against the US dollar as the greenback gained Rs7.25 and touched another historical high.
In the interbank market, the US dollar closed at Rs155.85 on Friday, which in consequence had raised Pakistan's external debts by Rs725 billion.
In the open market, the US dollar closed at Rs157.50, which in turn increased prices of goods, and hardships for the general public.
