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Dollar busts previous record, reaches all-time high of Rs193 in early morning trade

Dollar busts previous record, reaches all-time high of Rs193 in early morning trade

The US dollar climbed above Rs193 in the interbank market on Friday morning, reaching a new all-time high and breaking its previous day's record of breaching the Rs192 mark.

According to the Forex Association of Pakistan, the day's start saw the greenback appreciating by Rs1.10 from the previous day's close of Rs192 and reaching Rs193.10 around 11am in the interbank trade.

Mettis Global — a web-based financial data and analytics portal — has attributed the dollar's upward trajectory to the ongoing economic crisis in the country, particularly melting foreign exchange reserves and political uncertainty.

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