KARACHI: US dollar breaks the record as it reaches Rs 161 in the interbank market on Wednesday morning hours.
The US dollar rose by Rs2.2 at the start of the trading today.
The rupee devaluation against the US Dollar following an agreement with the International Monetary Fund (IMF) on a six billion USD loan with strict conditions which includes ‘Market determined’ exchange rate.
According to the State Bank of Pakistan, US Dollar price is Rs 158 today.
It appears more devaluation is expected as Government has agreed on IMF terms.