The US dollar continued its upward spiral and reached Rs188.66 from Rs187.53 with an increase of Rs1.13 against Pakistani rupee at the opening time of the interbank trading on Tuesday, reported 24NewsHD TV channel.

At the start of the interbank trading, the US dollar gained 67 paisas and the trend continued till the closing time and it closed at Rs188.66 against Pakistani currency.  

The interbank trading of the US dollar and Pakistani rupee on the second day of the business week saw the unprecedented fluctuations as the federal government has not now inked any dead with international lender IMF.

Economic experts said that the US dollar which has become the lifeline of the economy, there is an immediate need to stabilise the currency bringing rupee-dollar parity value.

https://twitter.com/StateBank_Pak/status/1523969127169368064

According to the State Bank of Pakistan (SBP) the dollar closed at Rs187.53 on Tuesday, a rise of 90 paise over the last closing. On May 6, the US currency appreciated by 94 paise to Rs186.63. The surging dollar has shattered the confidence of rupee-based economy and its stakeholders.

Reporter Ashraf Khan