US Dollar rise against Pakistani rupee in interbank market
The flight of the US dollar against the Pakistani rupee continued into the trading week’s second day after Tuesday’s USD value increased by PKR1.22 on the interbank market.
With the new raise, the interbank market is trading the greenback at Rs157.80.
It should be mentioned here that for the second consecutive day, the value of the greenback has increased against PKR. Due to floating concerns about the coronavirus, the dollar gained sharply versus the rupee on both the interbank and open markets on Monday.
The rupee lost Rs 2.27 on the interbank market against the dollar on Rs 156.50 and Rs 156.60 for buying and selling. Whereas the US dollar was purchased and sold respectively at Rs 156.50 and Rs 157.00.
In most parts of the world, marketmen said coronavirus was ensuing panic. Oil prices dipped in the international markets and the local equity market also followed suit with other regional markets, they observed.