In Interbank Market US Dollar Touches Record High Of Rs.120
In Interbank Market US Dollar Touches Record High Of Rs.120: Value of the US dollar hit the record high of Rs.120 in interbank trading on Monday morning.
The greenback, which was previously standing at Rs.115.63, rose by Rs.4.38, according to foreign exchange dealers.
Earlier this year in March, the US dollar had shot up by Rs4.93 in the interbank market to hit a high of Rs.115.50 before coming down to Rs.115 at the close of business.
The currency had shot up to its record-high in the interbank had also peaked to Rs.116 in the open market.
The value of the Pakistani Rupee had noted a 4% decrease in the interbank market as a result of the dollar rise.
No Increase In Petrol Prices
The interim government has decided not to increase prices of petroleum products, sources informed.
Caretaker Finance Minister Shamshad Akhter said that she would not make a decision like increasing the prices, according to sources.
The summary of hike in petroleum prices, forwarded to the prime minister by the finance ministry, has also not been responded to, the sources said.
The ministry had forwarded summary of recommendations by Oil and Gas Regulatory Authority (OGRA) to the premier, they added.
The OGRA on May 30 had sent a summary suggesting increase in prices of various petroleum products effective from June 1.
The regulator had recommended increase of Rs.8.37 and Rs.12.5 per litre in prices of petrol and diesel respectively.
The OGRA had also recommended Rs.8.30 and Rs.11.65 hike in kerosene oil and diesel oil prices respectively.
Gold Rate Decreased
Gold has maintained a downtrend in international and domestic markets ahead of a summit between North Korean and United States leaders, which is supposed to be held on Tuesday (June 12), as global investors exit from the safe haven asset on hopes of success of the talks.
Gold prices in Pakistan stand almost equal to the international rates. They are set by a local association after adjusting for the rupee-dollar parity and also keeping in view the consumer demand.
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