The US dollar crossed the Rs100-benchmark in the open market towards the end of this week, after almost one and half months stability, said currency traders.
The sudden jump in the greenback’s value came as rich Pakistanis are set to fly abroad with their families to enjoy summer vacations.
“The dollar crossed Rs100 by mid of the day but returned back to Rs99.85 by the close,” said Anwar Jamal, a currency expert and money changer.
The greenback remained below Rs100 for more than six weeks but it breached the limit on Thursday as it was traded at Rs100.20. It again traded above Rs100 on Saturday but slipped back to Rs100.
“The dollar demand has increased substantially because of buying by individuals ahead of summer holidays,” said Jamal.
