Constantly high: Dollar reaches Rs151 in open market
- By Web Desk -
- May 20, 2019
KARACHI: With a consistent upward trend, the US dollar touched a new record high of Rs151 in the open market on Monday morning.
The rupee has continued to slide down against the greenback in recent weeks. The dollar was recorded at Rs150 on Friday, at Rs147 on Thursday and Rs144 on Wednesday, in the past week.
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.
Read More: Iftikhar Durrani releases figures of dollar growth in previous governments
Few days earlier, taking the notice of the devaluation of rupee against the US dollar, Prime Minister Imran Khan ordered to launch crackdown against money changer companies selling dollar above market rate.
In the light of government’s directions, Federal Investigation Agency (FIA) has also launched a crackdown against dollar hoarders as well as those involved in Hawala Hundi business.