US dollar touches Rs160 in interbank market
KARACHI: With no one to pull US dollar’s reins, it reached Rs160 in the interbank market on Wednesday.
As per details, the rate of greenback increased by Rs2.2 at the onset of the trading.
Last week, the US dollar continued to gain strength against the Pakistani rupee as it was being traded at Rs157 in the open market.
Earlier on June 14, the worth of the greenback increased by Rs3.10 in the interbank market to reach Rs156.
Read more: ‘Boycott dollar’ trends on Twitter in Pakistan amid devaluation of rupee
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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