Dollar hits 122 rupees in early trade

KARACHI (Sarzameen News) – Rupee again hit by storm on first day of the new week as dollar appreciated sharply against the domestic currency rising in excess of Rs 4.

The dollar during the early trade hit the all time high of Rs 122 at the interbank.

The magnitude of decline was unprecedented but some selling from exporters, the volley of falls slow down at the greenbacks were trading around 120. But after loss from the last session, it declined by Rs 4.40 to Rs 120.

In one go, the PKR depreciated by 3.8 percent since December when the currency turmoil started, dollar has gained almost 14 percent which has been worst in the history of the country where the rupee has gone down by so bigger volume, said an analyst.

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