US dollar maintains historic high rate

KARACHI: The US dollar maintained its historic high rate in the Pakistani currency market.

Wednesday’s trading session opened with a further rise in the mighty currency.

The dollar gained a further 50 paisas in the interbank market, as per currency dealers. They added that the greenback was being traded for Rs299.50.

On Tuesday, the US dollar had reached its highest peak in the history of Pakistan’s open market.

KSE-100 witnesses slight gains

On the other hand, the British pound is being traded in the interbank market for Rs382.34, the euro for Rs326.5, the UAE dirham Rs81.41, Saudi riyal Rs79.72, Australian dollar Rs192.46, and Canadian dollar Rs220.9, as per the rates updated by forex.pk.

Globally, the US dollar perched near a two-month peak on Wednesday as investors looked to the Federal Reserve chair’s speech this week for cues on the path of monetary policy, while the yen loitered near 146 a dollar, keeping traders guessing on any intervention.