Dollar reaches Rs151 in open market

KARACHI: With a constant upward pattern, the US greenback touched a brand new report excessive of Rs151 within the open market on Monday morning.

The rupee has continued to slip down in opposition to the dollar in current weeks. The greenback was recorded at Rs150 on Friday, at Rs147 on Thursday and Rs144 on Wednesday, previously week.

It could be famous that the rupee went into free fall following three days when PM’s adviser on Finance Abdul Hafeez Sheikh introduced the finalization of a three-year bailout with the Worldwide Financial Fund (IMF) for $6 billion.

Learn Extra: Iftikhar Durrani releases figures of dollar growth in previous governments

Few days earlier, taking the discover of the devaluation of rupee against the US dollar, Prime Minister Imran Khan ordered to launch crackdown in opposition to cash changer firms promoting greenback above market charge.

Within the gentle of presidency’s instructions, Federal Investigation Company (FIA) has additionally launched a crackdown in opposition to greenback hoarders in addition to these concerned in Hawala Hundi enterprise.

 

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