US Dollar at New Record High Level vs Pakistani Rupee: 31 May 10

Rate of Dollar was at Rs.85 in the inter-bank just few weeks back: then recently, the rate started to come down. I think the rate was down to approximately Rs. 83 point something.

But then in the last couple of days, $ started to get stronger and stronger against PK Rupee.

Today, a new all time high level record was made. $ reached a staggering level of Rs. 85.21

This is at least the highest level at which I have seen $ in the inter-bank market.

British Pound got stronger against the US Dollar today [despite the fact that there was a public holiday in USA and also in UK]: so that contributed in the increased rate of BP against Pak Rupee.

Currently I am not sure what the reason is for this increase in $ vs Rupee rate:

  1. NIB Bank may get into the Defaulter’s List at KSE
  2. Pak Rupee at Record Low Level against US Dollar: 12 July 10
  3. Gold Price drops more than 35 Dollars in one day: 1 July 10
  4. Very low share volume recorded at KSE: 1st July 10
  5. US Stock Markets remained closed on Monday 5 July 10

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