Dollar increased by 50 paisas, reached all-time high of Rs181.50 in open market


Karachi: The Pakistani rupee continued to slip and slide Tuesday and tumbled in the interbank market for a second consecutive session.
According to the State Bank of Pakistan, the local currency depreciated around Rs0.01% against the greenback to settle at Rs178.19 on Tuesday in interbank market and faltered to all-time low of Rs178.19. It recorded a decrease of 2 paisas.
Meanwhile, in the open market, the dollar increased by 50 paisas and reached an all-time high of Rs181.50.
It is pertinent to mention here that the rupee has maintained the downtrend for the past seven months. It has lost 17.02% (or Rs25.92) to date, compared to the 22-month high of Rs152.27 recorded on May 14.
A day earlier, the US dollar further weakened Pakistan Rupee as the former reached a new record low, selling at 178.17 against the dollar in the interbank market.
The local currency has witnessed nearly 17% fall since May.
On Tuesday, Pak Rupee recorded a minimal decline of 0.02% against the US dollar owing to the widening current account deficit.
The rupee has maintained the downtrend for the past seven months. It has lost 17% (or Rs25.9) to date, compared to the 22-month high of Rs152.27 recorded on May 14.
With a fresh decline of 0.06%, the rupee has depreciated by 13.09% (or Rs20.63) since the start of the current fiscal year on July 1, 2021, data released by the central bank revealed.

Security guard arrested after fatal shooting of child in Karachi
- 3 hours ago
Fahad Mustafa’s alleged second marriage sparks social media buzz
- 7 hours ago

4 Indian-backed terrorists killed in Mastung operation: ISPR
- 4 hours ago
Haris, spinners power Pakistan to 93-run win over Oman in Asia Cup clash
- 3 hours ago
.jpg&w=3840&q=75)
Sugar prices spike across Pakistan
- 5 hours ago

Electric bus service to begin in Mianwali from Sept 15
- 7 hours ago
Journalist Hasan Siddiqui dies in road accident
- 4 hours ago

Married woman allegedly gang-raped by 5 men in Haripur
- 5 hours ago
Pakistan launches first AI-based driving test car
- 7 hours ago

KMC decides to repair damaged roads after rain
- 7 hours ago
Sidra Bibi case: Challan submitted, 27 named in honor killing including parents and relatives
- 7 hours ago

Pakistan to host SCO summit 2027
- 7 hours ago