US dollar continues to soar against Pakistani rupee

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KARACHI: The Pakistani rupee reached a new all-time low against the US dollar in the interbank market on Thursday.

The worth of Pakistani rupee further slid down by Rs0.54 against the greenback.

The US dollar is being traded at Rs152.10 in the interbank market today.

Following the upward trend in the interbank, the US dollar also strengthened in the open market with a surge of Rs0.40 to be sold at Rs152.40.

Read more: ‘Boycott dollar’ trends on Twitter in Pakistan amid devaluation of rupee

Before the announcement of the federal budget on Tuesday, the dollar had touched Rs151.95 in the interbank market.

In the month of May, the rupee consistently slid down when it reached the highest level of Rs153 against the greenback on May 21.

It may be noted that the rupee went into free fall following three days when PM’s adviser on Finance Abdul Hafeez Sheikh announced the finalization of a three-year bailout with the International Monetary Fund (IMF) for $6 billion.

 

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