US dollar raises 1.2 against Rupee, reaches 113.5 in open market
Karachi (Web Desk): The US dollar rate against Pakistani rupee raises 1.20 on Monday in open market. Currently trading at 113.50 in open market, sources.
The rate of the US dollar has been increasing since the past week, with the value touching Rs113 on Monday.
However, analysts said that the current account deficit and related factors were building pressure on the economy which resulted in the deteriorate in the rupee against the dollar.
Pakistan recently raised $1 billion in a five-year Sukuk and $1.5 billion in ten-year Eurobond transactions.
Normally when supply increases, like it did last week, the market stabilises as the balance of payments increases.