KARACHI: US dollar hits historic level against Pakistani Rupee
The US dollar reached an all-time high of Rs146.25 in the open market onWednesday.
The dollar reached the all-time high in Pakistan after an increase ofRs2.25.
The increase comes following Pakistan’s agreement with the InternationalMonetary Fund (IMF) securing a $6 billion bailout on Sunday.
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At the start of the week, Pakistani stocks fell as investors and analystsexpressed doubt over the reported conditions of the deal.
“The investors have taken the IMF conditions as negative, especially withregard to free float of the rupee against the dollar and increasing theinterest rate,” Yawar Uz-Zaman, head of Research at Shajar Capital, abrokerage house in Karachi told AFP.
