The last day of the grueling business week had unleashed a tempest in the currency market that seemed relentless, an unyielding force of economic turmoil. With each tick of the clock, the Pakistani rupee plummeted further into an abyss of devaluation.
In the interbank, the US dollar had breached the once-unthinkable threshold, reaching an unprecedented historic level of Rs301.
The open market, mirroring the despair of the interbank, was no less forgiving. Here, too, the dollar had scaled the dizzying heights of Rs316.
The Pakistani rupee continued to remain under historic pressure against the American dollar, as it lost further value on Friday morning.
The interbank market witnessed a notable increase in the value of the US dollar, with a rise of 28 paisas. This surge has elevated the interbank trading rate to Rs300.50 per dollar, reflecting a significant shift in the currency exchange landscape.
At the start of trading on Thursday, the greenback broke all previous records and it crossed the Rs300 benchmark in the interbank market for the very first time in history.
The US currency gained a further 58 paisas and reached the historic Rs300.22 milestone in the interbank market.
In the open market, the US currency had crossed a triple century a few days ago already.
Meanwhile, the dollar mafia has also stepped up and is taking full advantage of the situation.
In just two weeks, the dollar has gained a magnanimous Rs13 in the interbank market. In the open market also, the currency gained Rs18 in just two weeks of the caretaker government.
In the open market also, it gained a further Rs3 and reached the value of Rs315.
On Wednesday, the US dollar maintained its historic high rate in the Pakistani currency market. Wednesday’s trading session had opened with a further rise in the mighty currency.
Currency dealers said the dollar returned after marking a triple century.
The currency gained a further 63 paisas in the interbank market, as per the State Bank of Pakistan. They added that the greenback was being traded for Rs299.63.
In the open market, the US currency strengthened by a further Rs3 to trade at Rs310.
On Tuesday, the US dollar reached its highest peak in the history of Pakistan’s open market. The American currency thrashed all previous records and recorded an increase in value by Rs8 to trade at Rs312.
In just one day, the currency reached its highest level in history.
Moreover, in the interbank market, the greenback gained Rs1.87 on Tuesday afternoon, and is being currently traded at Rs299.
