On Friday, Pak Rupee dropped to a record low of Rs.156 against the US dollar. The US dollar reached an all-time high against the Pak rupee.
The details revealed that dollar surged by Rs3.10 against the Pak rupee in the interbank market and reached Rs.156.
US dollar reached Rs152.10 against the Pak Rupee in the interbank market on Thursday as rupee dropped by Rs0.54 against the greenback.
US dollar also gained in the open market with an increase of Rs0.40 and reached Rs152.40.
The federal budget was announced on Tuesday. Before that, the dollar reached Rs151.95 in the interbank market.
In the month of May, the rupee dropped down consistently and reached record-high of Rs153 against the greenback on May 21st.
When the PM’s adviser on Finance Abdul Hafeez Sheikh made the announcement of the finalization of a three-year bailout with the International Monetary Fund (IMF) for $6 billion, the rupee went into free fall.
Then the general public and many celebrities appealed to the masses to ditch dollars and buy rupees in support of the currency.