KARACHI: Earlier today, the US dollar surged to an all-time high of Rs150 in the open market, as a consequence of Pakistan’s $6 billion dollar bailout package with the International Monetary Fund (IMF).
The greenback gained by another Rs3 to touch an all-time high of Rs150 in the open market and rose by Rs2.48 in the interbank market to reach Rs149 earlier today. (as it is)
Between Wednesday and Thursday, the dollar fluctuated from a high of Rs147 to a slightly lower Rs144.
Malik Bostan, President of Forex Association of Pakistan informed a private news source that the depreciation of rupee against dollar will be almost by 15-20% till the end of the running year.
“Until the foreign exchange reserves situation improves, there is no [chance] of the dollar coming down,” he said.
