Dollar reaches to a new high record of Rs152
KARACHI: US dollar reached at a new high record of Rs152 in the open market today, as the rupee continued its downward spiral following an agreement with the International Monetary Fund.
The dollar also saw an increase in the interbank of Rs149.65.
The rupee is heading down a steep slope and has been termed Asia’s worst performing currency. Analysts predict that the worst is not yet over. The rupee is expected to go through another bout of devaluation in the coming days when Pakistan gets the first credit tranche of the $6 billion loans from the IMF.
On Friday, the dollar reached Rs150, was at Rs147 on Thursday and Rs144 on Wednesday.