The US dollar reached a new high against the rupee in the interbank market - The World News Daily Blogs.

 The US dollar reached a new high against the rupee in the interbank market.

US Dollar

KARACHI: The Pakistani monetary unit continued to lose ground against the US dollar and plunged to a very cheap against the greenback within the interbank market,

According to forex dealers, the rate remained besieged because the US dollar continued its upward spiral against the local currency and gained 80 paise in intraday trading.

The greenback has gained 80 paise in early trade and is currently trading at Rs 202.21 within the interbank market, the very best level ever.

US Dollar High

US dollar within the open market is additionally trading at over Rs202, per Forex dealers.

The US dollar closed at 201.41 the opposite day.

PKR

When the coalition government led by Prime Minister Shahbaz Sharif came to power on April 11, the worth of the dollar was 182.3 rupees. Since then, the rupee has lost Rs 20.20 in value.

The banking company of Pakistan (SBP) on Monday raised the monetary policy rate by 150 basis points to 13.75% for the subsequent six weeks to keep up the balance between inflation and the economic process.

Pakistani Rupeez

“The MPC decided to lift policy rate by 150bps to 13.75%. This action, along with much needed fiscal consolidation, should help moderate demand to a more sustainable pace while keeping inflation expectations anchored & containing risks to external stability,” the financial institution said in a very statement.