KARACHI: The US dollar on Wednesday continued its slide against the rupee in the interbank, days after the government reversed some subsidies on fuel, a major demand for the release of a $1 billion tranche from the IMF, ARY NEWS reported.
According to forex dealers, the US dollar shed Rs0.59 in the interbank and traded at Rs197.87. In the open market, the greenback was trading between Rs197 to Rs202.
Interbank closing #ExchangeRate for todayhttps://t.co/MeUOA07i4E pic.twitter.com/eJOZD600oQ
— SBP (@StateBank_Pak) June 1, 2022
It is pertinent to mention here that the Pakistani rupee also extended an upward trend against the US dollar in the interbank market on Tuesday.
According to forex dealers, the local unit appreciated by 0.35 rupees versus the greenback in the interbank market to trade at Rs198.71. The dollar had closed at Rs199.06 against the Pakistani rupee the other day.
Interbank closing #ExchangeRate for todayhttps://t.co/YNy5dXitPe pic.twitter.com/iIBHvtg9P7
— SBP (@StateBank_Pak) May 31, 2022
It is pertinent to mention here that the federal government on Thursday increased petrol and diesel prices up to Rs30 per litre to reduce fuel subsidies.
Read More: GOVT HIKES PETROL, DIESEL PRICES UP TO RS30 PER LITRE
Finance Minister Miftah Ismail made the announcement at a press conference. He announced to hike the petrol, diesel, light diesel and kerosene oil prices up to Rs30 per litre.
After the recent hike, the new price of petrol is Rs179.86 per litre, high-speed diesel (HSD) Rs174.15, kerosene oil Rs155.56 and light diesel Rs148.31 rupees.
