US Dollar skyrockets to Rs 142, hits all-time high against rupee after first 100 days of PTI

The US dollar hit an all-time high of Rs142 in the interbank market on Friday. The greenback gained by Rs8 (a five percent increase) to touch the new high in the interbank market. The dollar stood at Rs 134 when the market closed on Thursday.

Dollar gained Rs8 (a five percent increase) to touch the new high in the interbank market, a day after the ruling regime highlighted its steps taken in the first 100 days; the dollar stood at Rs 134 when the market closed on Thursday.


The sudden rise of Rs10 in the value of the US dollar is based on the government's commitments to the International Monitory Fund (IMF).

The US dollar, which was being traded at Rs134 yesterday, opened higher at Rs142 on Friday while the local currency further devalued by Rs2 to Rs144 before setting to Rs140 at midday.

The State Bank of Pakistan is set to announce its monetary policy today and the market expects an increase in the interest rate which could have an effect on the dollar rate as well. The current policy rate is 8.5%.

The increase in Dollar price comes a day after Prime Minister Imran Khan highlighted his successes achieved in the first 100 days of incumbent regime saying, Pakistan’s best days lie ahead.

The rupee has depreciated by a massive 36% against the dollar over the past 12 months.