US dollar continues to rise, hits 8-month high

KARACHI: United States dollar continues to rise again and has hit its all-time high in last eight months today (Thursday) in inter-bank market.

The US dollar increased against the Pakistani Rupees for a third-straight day. This represents an increase of 70 paisas to Rs 159.30.

At afternoon, the dollar also noticed increased in open market with hike of 20 paisas to reach Rs 158.50.

It is worth mentioning here that Pakistani Rupee has slumped by more than 4.70 paisas in last four days.

Earlier today, US President Donal Trump in a dramatic step restricts travel from Europe to fight coronavirus. This plan came when market was already destabilized.