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US dollar continue to thrash Pak Rupee, crosses historic Rs210 mark

US dollar continues to thrash Pak Rupee, crossing the historic Rs210 mark on Monday.

The US dollar continued its upward march as it rose above Rs210 against the local currency during the early morning trade in the interbank market.

The rupee depreciated by Rs2.45 to close at an all-time low of Rs210.2 against the dollar from Friday’s close of Rs207.75.

In the open market, the greenback was trading at Rs214 as of 4:50 pm.

The rupee depreciated by Rs4.89 last week.

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According to economics experts, the local currency is likely to trade on the back foot during the week unless Pakistan reaches deal with the International Monetary Fund (IMF) for the revival of a $6 billion financial package.

Furthermore, gold prices in the domestic market have also hit an all-time high of Rs147,250 per tola.

On Monday, the price of 10 grams of 24k gold was recorded at Rs 122,100.

Likewise,10 grams of 22k gold were being traded for Rs 111,924.

A single tola of 22-karat gold was being sold at Rs 130,532.

Saman Siddiqui

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