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Dollar hits Rs193 in early morning trade

Dollar hits Rs193 in early morning trade!

The local currency fell by over Rs1 against the US dollar during intraday trading in the interbank market.

Friday marks the fourth consecutive day that the dollar has risen to a record high against the Pakistani rupee, setting a new all-time high record.

The downtrend in the Pakistani rupee continues amid uncertainty over the resumption of the International Monetary Fund’s (IMF) loan programme and shrinking foreign exchange reserves.

The rising exchange rate had rattled the economy as well.

Pakistani currency dropped nearly 3% in the last five sessions since Monday.

The greenback hit a high of Rs188.66 in the interbank market on Tuesday, while it soared to Rs190.90 on Wednesday, and on Thursday it rise past Rs192.

Saman Siddiqui

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