Dollar's Price Breaks Critical Threshold Of Rs190 In Interbank Market

Abdullah Hussain (@Abdulla99267510) Published May 11, 2022 | 11:55 AM

The latest reports say the US dollar, with the latest increase is being traded at Rs190.07 for first time in history.

LAHORE: (UrduPoint/Pakistan Point May 11th, 2022) The US dollar's price has set new records against Pakistani Currency as it rose by Rs 1.41 during the business in the interbank on Wednesday.

The new price has broken critical threshold of Rs190 in the interbank market.

According to the latest reports, the US Dollar, with the latest increase is being traded at Rs190.07 for first time in history. The interbank trading deepened the economic woes of the country.

Yesterday, it closed at Rs188.66.

Initially, it was hoped that the dollar's rate would come down once the new government took over in the country but the situation was totally opposite.

The reports suggest that initially there was slight decrease in its price but later everything changed as the dollar's price was still going up.

The reports say that the upward trend is just because of uncertainty with respect to the International Monetary Fund (IMF) programme. The government also did not give any direction regarding significant economic policies and a roadmap. The unstable political situation in the country has also added fuel to the declining value of the local currency.