USD rose by a record 25 rupees to reach an all-time high
Finance Minister Dar completely failed to control value of American dollar. Today, dollar reached highest level in history due to record increase in currency market, while gold also became expensive by 4 thousand 900 rupees to 1 lakh 96 thousand rupees per tola. Due to removal of cap from value of dollar, stock exchange had a positive trend for fourth consecutive day today, increasing by more than 1000 points.
In the currency market, the USD trampled the Pakistani rupee. In the history of the country, the value of the dollar increased by 25 rupees in a single day, while the dollar became expensive by 12 rupees in the open market.
On the fourth day of the fourth business week of this year, the Pakistani rupee faced the worst pressure in the currency market. In the inter-bank exchange rate, one dollar rose to an all-time high of 25 rupees.
According to the data released by the State Bank of Pakistan, the highest increase in the history of the dollar was seen in the interbank market on a single day.
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According to the data of State Bank of Pakistan, one dollar became expensive by 24 rupees 54 paise in the interbank currency market. One dollar closed at 255 rupees 43 paise, the highest increase in history.
According to the Forex Association, after the removal of the cap, a large increase in the value of the dollar was also recorded in the open market. In the open market, the dollar became expensive by 12 rupees and reached the level of 255 rupees.
It should be remembered that during the 9 months of Shahbaz Sharif’s government based on the PDM alliance, the US dollar has become expensive up to 73 rupees. In the last 9 months, the value of the rupee has decreased by 28%.
The rupee is under severe pressure during the 9-month term of the coalition government. In nine months, the rupee has lost 28 percent of its value, while on a monthly basis, the rupee has depreciated by 3.2 percent or about 8 rupees per month.
Interbank closing #ExchangeRate for todayhttps://t.co/8oc0zHCyvM pic.twitter.com/eBX6rw3FIF
— SBP (@StateBank_Pak) January 26, 2023
During the entire four-year tenure of the Tehreek-e-Insaf government under the leadership of Imran Khan, the value of the US dollar against the rupee was recorded to increase by about 59 rupees.
At the time of taking over the Prime Ministership of Imran Khan, the dollar was worth 124 rupees, which at the end of the government was 183 rupees. In four years, the value of the dollar increased by one and a half rupees on a monthly basis.
On the other hand, after the removal of the cap from the dollar, the Pakistan Stock Exchange has seen a bullish trend for the fourth consecutive day. The 100 index has seen an increase of more than 1000 points.
Pakistan Stock Exchange 100 index closed at 40 thousand 846 after an increase of 1 thousand 61 points. Today, a positive change of 2.67% has been recorded in the share market.
A total of 356 companies’ shares were traded in the stock market today, in which 257 companies saw an increase in share prices while 77 companies saw a decrease. Prices of 22 companies remained stable.
According to the gold traders, today the price of gold per tola in the local market has reached the highest level in the country’s history.
In the local exchange market today, gold has become expensive by Rs 4,900 per tola to Rs 1,95,500 while 10 grams of gold has increased by Rs 4,200 to Rs 1,68,000.
