KARACHI – US dollar likely to hit Rs 160 mark against Pakistani Rupee.
The US dollar gained Rs2 against Pakistani rupee in the open market onWednesday.
There are strong speculations that the local currency will depreciatefurther to Rs 160 mark after the signing of a bailout agreement with theInternational Monetary Fund (IMF).
Experts believe that the sudden devaluation of local currency against theUS dollar and the greenback hitting a high of Rs146 is interlinked with thegovernment s commitments to the IMF.
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According to currency dealers, dollar was trading at Rs146 in the openmarket, whereas in the interbank market it remained stable around Rs141.39.
The Pakistan Stock Exchange (PSX) benchmark KSE 100-share Index has gained425 points and rose to 34,310 points on Wednesday.
