Dollar crosses Rs141 mark in inter-bank market
- By Web Desk -
- Apr 03, 2019
KARACHI: The US dollar was trading at Rs141.35 in the inter-bank market on Wednesday, ARY News reported.
The rupee’s value is dropping against the US dollar, as it hits highest level of Rs141.35 today after surge of 26 paisas in the inter-bank market.
The experts had predicted the dollar may touch Rs150 but the recent dollar inflow has prevented the rupee from falling to that level.
Presently, Pakistan is negotiating a loan package from the International Monetary Fund (IMF) but a breakthrough in talks is awaited.
Experts say the IMF will set difficult economic reform targets for Pakistan including a free-float exchange rate, which may result in further depreciation of the rupee.
Read more : Rise in dollar rate does not make a difference: info minister
Experts say the IMF will set difficult economic reform targets for Pakistan including a free-float exchange rate, which may result in further depreciation of the rupee.
Lately, in a historic surge on November 30, the value of the dollar shot up by Rs8 in the interbank market resulting the dollar rate to reach up to Rs 142 against Rs 134 trading on November 29.
The current account deficit was said to be reason behind the surge. However, the rupee had recovered against the dollar in the open market on December 3 as the greenback fell by Rs 3 to Rs 136.