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Business

Web Desk
May 21, 2019

Pakistani rupee plunges to Rs153 against US dollar

Business

Web Desk
Tue, May 21, 2019

KARACHI: Pakistani rupee  plunged  to a new all time-low in the interbank and open market on Tuesday as it   continues to lose value against US dollar. 

The greenback saw an increase of Rs1.36, touching Rs151. In the open market, the rate increased to Rs153.

In the last four business days, the dollar has risen by Rs9.60 against the Pakistani rupee.

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.