US dollar reaches Rs154 in interbank market

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KARACHI: The US dollar continued to soar against the Pakistani rupee on Friday.

As per details, the worth of the greenback increased by Rs1.10 in the interbank market to reach Rs154.

On Thursday, the Pakistani rupee slid down by Rs0.54 against the greenback. The US dollar was being traded at Rs152.10 in the interbank market yesterday.

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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