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The US dollar continued its rising streak against the rupee on Tuesday, rising past Rs199 in interbank trading and marking the completion of a week of breaking records, largely on account of the country's rising imports and depleting foreign reserves.
According to the Forex Association of Pakistan (FAP), the greenback gained Rs2.75 from the previous day's close of Rs196.50 and climbed to Rs199.25 around 1:30pm before closing at Rs199, a gain of Rs2.50.
In the open market, the US currency was being traded at Rs200.50 around 4pm.
The current spell of the dollar's persistent rise against the rupee began on Tuesday last week, when the international currency hit a record high of Rs188.66. It then soared to Rs190.90 on Wednesday, rose past Rs192 on Thursday, reached Rs193.10 on Friday, climbed over Rs194 on Monday and surged past Rs196 yesterday (Tuesday).
