KARACHI: The US dollar continued its steep incline against Pakistani rupee, reaching a new all-time high in the interbank and open market on Tuesday.
In the open market, the dollar rose by Rs3 and was being sold at Rs154. The buying rate for the dollar in the open market was Rs152.50
With an increase of Rs2.72, the dollar reached Rs151.92 in the interbank market.
The rupee has been falling against the dollar following an agreement with the International Monetary Fund on a $6 billon loan with expected strict conditions including a “market-determined” exchange rate.
Meanwhile, Finance Advisor Hafeez Shaikh briefed the cabinet about the decline of Pakistani rupee against the greenback.
Prime Minister Imran Khan has ordered the State Bank of Pakistan to control over the price of dollar.