US dollar reaches Rs151 in open market
- By Web Desk -
- May 28, 2019
KARACHI: As the rupee slightly strengthened against the the US dollar just yesterday, it has again started to weaken in the interbank and open markets on Tuesday.
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.
The US dollar slipped by Rs1 and traded at Rs149.90 in the interbank market yesterday.
Read More: ‘Boycott dollar’ trends on Twitter in Pakistan amid devaluation of rupee
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.