Dollar slides down 92 paisa; bullish trend in stock exchange
- By Web Desk -
- May 29, 2019
KARACHI: The rate of dollar went down on Wednesday against the Pakistani currency as it has reached below Rs 150 in the interbank market.
Currently, the dollar has slid down by 92 paisa in interbank market.
Meanwhile, the Pakistan Stock Exchange is also witnessing an upward trend with an addition of 951 points in 100 index.
Yesterday, the US dollar increased by Rs1 in the interbank market to trade at Rs150.50. In the open market, the rupee also saw an increase of Rs1 and was being sold at Rs151.
On Monday, the rate of US dollar went below Rs150 in the interbank market after touching historical highs last week.
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Last week, the rupee consistently slid down when it reached the highest level of Rs153 against the greenback on May 21.
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.