Abb Takk News

US Dollar Trading At Rs 121.50 In Inter-bank

Karachi(June 12, 2018): The US dollar shot up to Rs121.5 in the interbank market after it closed at Rs119.84 on Monday.

The greenback had reached a record-high of Rs121 on June 11 — the State Bank of Pakistan (SBP) had attributed the movement to a gap between foreign exchange demand and supply in the interbank market.

Click Play Button To Watch This Video

The dollar has increased by over Rs15 in the past six months.

According to SBP, despite the continued growth in exports — 13.3 percent in July-April Financial Year (FY) 18 — and some uptick in remittances, growing imports pushed the current account deficit to US$ 14.0 billion during the first ten months of FY18, which is 1.5 times the level of deficit realised during the same period last year.

Related News:

Khursheed Shah Reacts Over PoL Prices Hike

Dollar Jumps Record High, Reaches Rs.120