US Dollar goes down to Rs 157.75 in interbank market

KARACHI: The rupee after a spell of free fall against US dollar crawling back to gain some lost space in the interbank market on Tuesday.

According to ARY News, the value of dollar went down by Rs 2.30 to Rs 157.75 in the interbank market today.

The value of US dollar also dipped by Rs 4.05 on last Friday.

The US dollar touched a record high as it soared against the Pakistani rupee in the interbank market on last Thursday at Rs 164.50.

The greenback witnessed a sharp decline on Friday by dipping down Rs4.05 and settling at Rs160.

In the past week, the value of USD jumped by Rs5.2 within a day and touched Rs162.47 in the interbank market.

The rupee went into free fall following three days after 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.

The greenback continued to gain strength against the Pakistani rupee in the open market last week.

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