US dollar hits Rs 196 value against Pakistani Rupee in open market
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*KARACHI: **The rupee on Monday continued its losing streak after it shed Rs1.47 against US dollar owing to the indecisiveness of the government to revert fuel subsidies, a major demand of the IMF for the release of US$1 billion tranche. *
According to details, the US dollar traded at Rs192.38 after rupee gained Rs0.15 in the early hours of the day. Previously, the dollar closed at Rs192.53 in the interbank on Friday.
However, after an initial gain, the rupee shed its value by Rs1.65 as US dollar traded at all-time high in the interbank at Rs194.53. The forex dealers said that in the open market, the US dollar is trading at Rs195.50.
Earlier in the day, amid indecisiveness of the incumbent government led by Shehbaz Sharif on a deal with International Monetary Fund (IMF), the Pakistan Stock Exchange (PSX) witnessed bloodbath in the early minutes of the trading link after it shed 1061 points.
