US greenback reaches Rs157 in open market

KARACHI: The US greenback continues to achieve power in opposition to the Pakistani rupee because it soars by Rs1.16 paisas firstly of the buying and selling week within the open market, ARY Information reported on Monday.

As per particulars, the US buck is being traded at Rs157 within the open market.

Earlier on June 14, the price of the buck elevated by Rs3.10 within the interbank market to achieve Rs156.

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

Following the upward development within the interbank, the US greenback additionally strengthened within the open market with a surge of Rs0.40 to be bought at Rs152.40.

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

Earlier than the announcement of the federal funds on Tuesday, the greenback had touched Rs151.95 within the interbank market.

Within the month of Might, the rupee persistently slid down when it reached the best stage of Rs153 in opposition to the buck on Might 21.

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.

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