US Dollar continues its upward trajectory against PKR!
On Tuesday, the US dollar continued its flight against the rupee for the sixth consecutive session, to breach the Rs196 mark, the new historic high.
According to the Forex Association of Pakistan (FAP), around 1:00 pm. the greenback gained Rs1.90 from the previous day’s close of Rs194.60 to climb to Rs196.50.
Economic experts term the persistent delay in receiving the next tranche of $1 billion from the International Monetary Fund (IMF) as mounting pressure on the rupee.
The current spell of the dollar’s persistent rise against the rupee began last week.
On May 10, the greenback hit a record high of Rs188.66.
It then soared to Rs190.90 on May 11.
US dollar rose past Rs192 on May 12, while it reached Rs193.10 on Friday, May 13.
The US dollar climbed over Rs194 yesterday (Monday).