KARACHI: The dollar rate crossed Rs.110.50 on Friday as it gained strength against rupee in the interbank market.
Dollar climbed by five rupees today. It had closed at Rs.105.50 yesterday.
In the open market, dollar is trading at Rs.109, according to Forex.pk.
According to experts, the dollar is going up due to Pakistan’s high debt burden, adding that the hike in dollar rate will also increase rate of imported items in the country.
Last week, the rupee traded firm against the dollar but fluctuated against the euro in the interbank market. In the open market, however, the rupee remained under slight pressure against the dollar. – Samaa
Story first published: 8th December 2017