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US Dollar hits double century against PKR, Reaches Rs 200 mark in open market.

US Dollar hits double century against PKR, reaches Rs 200 mark in the open market on Wednesday.

The rupee continued its downward slide against the US dollar.

The local currency reached a new all-time low of Rs197.75 against the greenback in the interbank market. 

As the business opened in intrabank trade today, the dollar soared to a new historic high against the Pakistani currency as it shot up to Rs198 by noon, up by two rupees and 26 paisas. 

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The dollar is reported of being traded at Rs201 in the open market, while the trading is still underway.

According to the Forex Association of Pakistan (FAP), the US Dollar gained Rs1.25 from the previous day’s close of Rs196.50 and climbed to Rs197.75 around 12 pm.

On Tuesday, the rupee closed at an all-time low of Rs195.74 against the greenback in the inter-bank market, according to the State Bank of Pakistan.

Saman Siddiqui

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