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[ad_1] The US dollar’s relentless surge against the Pakistani rupee shows no signs of abating, reaching record highs in both the interbank and open markets on the second day of the business week. According to details, the dollar’s value climbed by an additional 75 paisas in the interbank market, settling at an alarming 302.75 rupees. In the open market, the dollar remains at a historic level of Rs316. Within a mere two weeks, the US dollar has appreciated by a staggering 13 rupees in the interbank market and 20 rupees in the open market. On Monday, the rupee concluded the day at an all-time low against the US dollar, closing at 302. [ad_2] Source link https://worldnews2023.com/business/us-dollar-soars-to-new-high-against-pkr-such-tv/?feed_id=300178&_unique_id=662f46d2e6b41

[ad_1] KARACHI: The Pakistani currency witnessed a strong rebound as the International Monetary Fund (IMF)’s new loan programme defended its value, causing speculators to suffer losses. The rupee gained a significant 3.83%, or Rs10.55, reaching a four-month high at Rs275.44 against the US dollar in the inter-bank market on Tuesday. In the open market, the currency also experienced a jump of 3.57%, or Rs10, reaching Rs280 against the greenback. However, the closing price was significantly lower compared to Finance Minister Ishaq Dar’s claim of Rs270-272 against the dollar in the retail market just a day ago, despite the market largely being closed during the day. Furthermore, Pakistan’s global Eurobond continued its astonishing rally for the third consecutive working day, while gold prices further decreased following the signing of the staff-level agreement (SLA) between Pakistan and the IMF for a new nine-month loan programme worth $3 billion. Tuesday marked the first tradin