KARACHI: The Pakistani rupee depreciated another 0.85 rupees. against United States dollar in interbank market on Tuesday among budget uncertainties as questions with The International Monetary Fund (IMF) is not yet complete.
According to forex dealers, the US dollar rose by 0.85 rupees to 200.91. against rupee during the day trading.
“United States dollar in open market is trading Rs 202 to Rs 206,” they said.
The dollar rose by Rs 2.25 to close at Rs 200.06. in interbank market another day.
Interbank close #Exchange rate for todayhttps://t.co/HjHGD7tdJi rice.twitter.com/8DA4qDCX6T
— SBP (@StateBank_Pak) June 6, 2022
Today is the third in a row session what dollar continued his ascent against Rupee after a five-day winning streak of the local currency on Friday.
According to experts, the renewal of the IMF program is needed to stabilize foreign exchange reserves.
May 19, dollar reached record high of 200 rupees for in first time in interbank market.
respite for the rupee appeared only after government raised fuel prices by a whopping Rs 30 per litre, paving the way for way for release of $1 billion tranche from the International Monetary Fund.
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