Dollar continues to fall against the PKR after historic surge
- By Web Desk -
- Jul 04, 2019
KARACHI: Continuing the hopeful trend for the Pakistani Rupee the greenback fell a further 1.11 PKR today, ARY News reported on Thursday.
The US dollar which had soared to historic highs in the recent past has taken a downwards trajectory against the Pakistan Rupee.
Consequently, the greenback is being traded at Rs156.50.
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Earlier, the rupee after a spell of free fall against US dollar crawling back to gain some lost space in the interbank market on July 2.
The value of dollar went down by Rs 2.30 to Rs 157.75 in the interbank market.
The value of US dollar also dipped by Rs 4.05 last Friday.
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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.
Read More: US Dollar goes down to Rs 157.75 in 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.