The United States dollar surged to a 20-year high against a basket of currencies on Monday after Federal Reserve Chair Jerome Powell signalled interest rates would be kept higher for longer to bring down soaring inflation. The dollar index scaled to a fresh two-decade peak of 109.44 in the Asia trade, with greenback strength pushing […]
Dollar hits double century
Dollar hits double century, touches 200-mark in interbank
On Thursday, the Pakistani rupee declined to a historic low against the US dollar as the greenback touched the magic mark of Rs200 in intrabank trading. According to the Forex Association of Pakistan (FAP), the US gained Rs1.61 in the interbank market from the previous day’s close of Rs198.39 and climbed to Rs200 around 11:30am. […]