Abb Takk News

Dollar Gains Rs 5 in the Internet Bank Trade

KARACHI: The US Dollar rose Rs 5.18 to hit Rs164 in interbank trade and Rs 6.10 in the open market on Wednesday at the close of the day’s trading.

The greenback is being traded at Rs163 in the open market ─ an increase of at least Rs6.

Similarly, a massive increase in the value of gold has also been witnessed during this week, with the yellow metal trading at Rs80,500 per 12 grams today.

In the past two months, since Pakistan signed a deal with the International Monetary Fund (IMF), the dollar has been on a consistent upward climb.

The general secretary exchange companies association Zafar Paracha said that the hike in dollar value due to IMF conditions and it seemed that the price will stop at near Rs 175.