The US dollar reaches a record high of Rs. 121 in interbank trading on Monday morning.
According to the foreign exchange dealers, the US dollar was previously at Rs. 115.63, and has increased by Rs. 5.38.
The main reason behind the price hike of US dollar is increasing imports and widening current account deficit
Earlier in March 2018, the US dollar had shot up by Rs4.93 in the interbank market to hit a high of Rs 115.50. Later at close of business it came down slightly to Rs 115.
The US dollar had shot up to its record-high in the interbank had also peaked to Rs116 in the open market.
Due to record high in US dollar, the value of the Pakistani Rupee had a four per cent decrease in the interbank market.