Greenback touches Rs164.50 in interbank market

KARACHI: The US greenback touched a document excessive because it soared in opposition to the Pakistani rupee within the interbank market on Thursday.

The US greenback elevated by Rs2.34 within the interbank market to succeed in Rs164.50.

Yesterday, the USD reached Rs162.47 within the interbank market as the speed of buck elevated by Rs5.2 in the course of the buying and selling.

Earlier on Wednesday, the greenback was being traded at Rs2.2 on the onset of buying and selling and inside a number of hours, it skyrocketed to Rs. 5.2 within the interbank market.

Final week, the US greenback continued to realize energy in opposition to the Pakistani rupee because it was being traded at Rs157 within the open market.

Learn extra: ‘Boycott greenback’ developments on Twitter in Pakistan amid devaluation of rupee

It might 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.

 

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