US dollar hits a new historic high against Pakistani Rupee
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*KARACHI: The rupee’s downward trend against the US dollar in the interbank market continued on Monday as the greenback gained Rs0.61 in intraday trading. *
According to the Forex Association of Pakistan (FAP), the US dollar gained Rs0.61 in the interbank market and climbed to Rs200.75 around 12:00pm.
The forex dealers said that US dollar in the open market is also trading at over Rs202. The US dollar closed at 200.14 the other day.
When the PM Shehbaz Sharif link coalition government took over on April 11, the dollar was valued at Rs182.3. Since then, the rupee has lost Rs18 of its value. *IMF talks*
Pakistan link opened much-delayed talks with the International Monetary Fund (IMF) on Wednesday to resume a seventh review of the $6 billion rescue package agreed in 2019.
“Talks with the IMF mission started today,” a statement from the finance ministry said on Last Friday. It said a team led by Finance Minister Miftah Ismail and the central bank’s acting governor will join the talks virtually.
