US dollar marches past historic Rs180 mark in open market

KARACHI: The United States (US) dollar has surged to a historic high in Pakistan’s open market as it trades above the Rs180 mark on Monday, ARY News reported.

The greenback is being traded at Rs180.50 in the open market, while it has depreciated a little in the interbank market and is being traded at Rs178.5.

The Pakistan rupee continues to bleed against the US dollar and the greenback is flying high despite the measures of the incumbent government to control the further devaluation of PKR.

Earlier, the central bank said the foreign exchange reserves held by the SBP fell 2.23% during the week ending on December 17.

Sharing a break-up of the foreign reserves position, the SBP said that foreign currency reserves held by the central bank were recorded at $18,153.7 million, down $415 million compared with $18,568.3 million on December 10.