Ok so in the very beginning of the New Year, we are seeing Pak Rupee weakened against US Dollar at a record level. US Dollar is being traded against Pak Rupee at a level at which it was never traded before.
Here are few stats:
At the closing: US Dollar vs Pak Rupee: 1$ = Rs. 84.828
The more interesting thing to note here is the Highest Level reached today: 1$ = Rs. 85.454
Please note that: this is the highest level at which $ and Rs where traded today but the closing rate is different and is already mentioned above.
The lowest trading level for today: 1$ = Rs. 84.087
I have been tracking these stats for quite a long time: and I never have seen Pak Rupee reaching heights of Rs. 85.454 against the $.
Some experts believe that the possible reason for such increase in Rs against $, can be the buying of millions of dollar from different Banks.
Some experts also believe that this weakening of Pak Rupee will continue in near future.
In the open market, US Dollar was sold/traded above Rs. 85. In some cities, people reported that the rate was as high as Rs. 85.50.
