Dollar reaches Rs300 against pkr in open market

The US dollar surpassed the Rs300 level in open market trading against the Pakistani rupee on Tuesday, just days after the National Assembly was dissolved, ceding authority to caretaker Prime Minister Anwaarul Haq Kakar.

The greenback gained Rs4 during intraday trading to hit Rs300 against the local currency, which also lost momentum in the interbank market.

In current trading, the rupee fell Rs2.86 to Rs291.35 against the US dollar in the interbank market.

Previously: Pakistani Rupee makes remarkable recovery against US Dollar

The Pakistan Stock Exchange (PSX), on the other hand, saw a bullet trend during intraday trading, with the KSE-100 index rising 291.47 points to 48,715.87 points.

One of the primary problems for the caretaker government would be to limit the rupee’s devaluation in order to avoid a new wave of inflation in the country.