US Dollar registers increase against Pakistani Rupee in open market

US Dollar registers increase against Pakistani Rupee in open market
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KARACHI – The US Dollar on Friday had registered an increase of 10 paisa in open market after which green side was trading at Rs138.85.

Following a 10 paisa increase in the open market, dollar was traded at Rs 138.85.

On the other hand, the value of Pakistani Rupee has depreciated by around 26 percent over the year, as the greenback strengthened by Rs28.36, from Rs110.5 per USD on January 1, 2018 to Rs138.8.

The heaviest round of depreciation occurred in October when the greenback gained over PKR 9 at the interbank market, taking a leap from Rs124.3 USD to Rs133.6 per USD.

The rupee had plunged to a historical low on occasion of government’s announcement to approach the International Monetary Fund (IMF) for a bailout, given that at least 15 percent currency devaluation was recommended by the IMF .

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