US Dollar reaches historic high against Pakistani Rupee

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US Dollar reaches historic high against Pakistani Rupee

KARACHI: US dollar rise continued in the open market on Saturday as the Dollar hit an all-time high of Rs118.20.

Currency dealers said the dollar was not easily available since its demand was very high, particularly after the government barred property deals without accompanying disclosure on source of income.

Till Friday the inter-bank market remained unchanged at Rs115.65 with dealers saying the State Bank kept a watchful eye.

Over the past four months the rupee has been devalued by 9.5 per cent (official devaluation indicated in the inter-bank market).