Abb Takk News

US Dollar Touches Rs157 In Inter-Bank Market

KARACHI: US dollar continues to devalue Pakistani rupee in Inter Bank market, as the greenback soared to an all-time high at Rs 157 on Monday.

Amid the financial crisis, the dollar is continuing its upward trend in the market against the Pakistani rupee.

The dollar which jumped to rupees 157 at the start of the trading in the day, closed at Rs 156.50.

Before the announcement of the federal budget on Tuesday, the dollar had touched Rs151.95 in the interbank market.

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.