BusinessThe U.S Dollar Continued To Soar, Reaching 185 Rupees

The U.S Dollar Continued To Soar, Reaching 185 Rupees

Due to the bank holiday, the inter bank market remained safe from the effects of political turmoil on Monday, but the Pakistani rupee is facing severe pressure against the dollar in the inter bank market on Tuesday.

During trading, the dollar crossed the Rs 185 level and reached Rs 185.40.

Similarly, according to the Forex Association, the dollar is being sold at Rs 185.60 in the open currency market while in the local currency market there are reports of selling the dollar at a higher price.

It should be noted that the dollar is at an all-time high in the inter bank and open currency markets and the dollar has been setting new records daily for the past two weeks.

According to currency dealers, the widening trade and current account deficit has led to a steady decline in foreign exchange reserves, which has put the rupee under pressure. According to economists, with the economic crisis, the effects of the political crisis on the currency market have doubled.

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