British pound on Tuesday reached its highest rates in Pakistan’s history while the rates of the US dollar dropped slightly.

According to the 24News HD TV channel, at the Interbank Foreign Exchange, the dollar lost five paise to close at Rs176.63. In the open market, the dollar remained at Rs179.50.

As the British pound became more expensive in the world market, the British pound reached the level of Rs242.50 in the open market.

The Emirati dirham has been reduced by 40 paise reached at Rs49.30 and Saudi riyal by 20 paise to Rs47.30.

Exchange Companies Association General Secretary Zafar Paracha said that the value of the British pound has risen against the dollar in the world market due to which the pound in Pakistan has reached the highest level in the history of the country.

 Reporter: Ashraf Khan