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Business

Web Desk
May 16, 2019

Govt swings into action to check rupee freefall

KARACHI: The rupee closed 1.56 percent weaker in the open market on Wednesday – the fourth...

US dollar touches Rs147

Business

Web Desk
Thu, May 16, 2019

Karachi: Pakistani  rupee continued to decline against US dollar in  interbank  as  it traded at Rs 147 on Thursday.

The rupee saw a four percent decline of Rs5.61 during today's  trade. The greenback's buying rate was Rs145.

On Wednesday, the US dollar bounced back to Rs144 after reaching an all-time high of Rs146.25 during the day in the open market.

The dollar reached the all-time high after an increase of Rs2.25, following the agreement with the International Monetary Fund (IMF) securing a $6 billion bailout on Sunday.

Open market rate

According to Exchange Companies Association of Pakistan (ECAP), the dollar was also being traded at Rs147 in the open market.