Business

Rupee sinks against dollar a record-high this year

KARACHI: The US Dollar appreciated against rupee in the inter-bank market by Rs 85 paisas in the last two days, hiking its rate to 106.10 today.

Currency dealers have described the depreciation of the rupee against the dollar as a deliberate attempt by the government to devalue the local currency.

The dollar rate in the inter-bank market was around Rs105.5 on Monday.

It is learnt that the government was pressurized to devalue the rupee during talks with the International Monetary Fund in Dubai.

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