Dollar reaches historic high of Rs160 in interbank market
The US dollar gained Rs3.20 in the interbank market on Tuesday, taking it to a record high of Rs160.
According to forex dealers, the US dollar increased from Rs156.98 to Rs160 at the start of the trading day.
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.
Besides, a massive increase in the value of gold was seen in the previous week, with an increase of Rs4,200, reaching an all-time high of Rs75,900 per tola. The yellow metal saw the significant increase in prices due to the increase in the value of gold in the international market, coupled with an increase in the value of the dollar.
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