The US dollar has increased from Rs159.86 to Rs160.90.
Islamabad (Pakistan Point News – 16th July, 2019) The greenback continues to lose value against the US Dollar as it hit over Rs160 in the interbank on Tuesday.
Dollar gained Rs1.04 in the interbank market, following which it crossed Rs160. The US dollar has increased from Rs159.86 to Rs160.90.
Financial experts said that the rupee is depreciating due to burden of payments in Dollars.
The US dollar once again recorded an upward trend as it gained 16 paisa in the interbank market on Monday.
Following the increase of 16 paisa, dollar was traded at Rs159.85 in the interbank market on Monday.
Last week, the exchange rate of dollar jumped by 60 paisa in interbank, which traded at Rs 158.48 as compared to the last closing at Rs 157.88.
However, according to the forex Association of Pakistan, the buying and selling rates of dollar in the open market were recorded at Rs 158.50 and Rs 159.50.
The SBP further reported that in interbank the price of Euro increased by Rs 1.43 and was traded at Rs 178.61 as compared to last closing at Rs 177.18.
The exchange rate of Japanese Yen raised by 02 paisa after which it was traded at Rs 1.46 against Rs 1.44, whereas the increase of Rs 1.55 was witnessed in exchange rate of British Pound which was traded at Rs 198.73 as compared with last closing at Rs 197.18.
Exchange rates of UAE Dirham and Saudi Rayal jumped by 16 paisa each after which they were traded at Rs 43.14 and Rs 42.25 against Rs 42.98 and Rs 42.09 respectively.
