Pak Rupee has depreciated to a record low as US dollar shoots up to Rs. 150 in the open market. The dollar gained by Rs.3 and reached Rs150 following the bailout packages taken by Pakistan from the International Monetary Fund (IMF).
Earlier we reported that Pak Rupee has reached Rs 149 against the US dollar but as per news reports it has gone further down to reach Rs. 150 in the open market.
In just two days’ time, Pak Rupee has gained Rs.6 in the interbank market. Today, on Friday, the US dollar gained Rs.3 and reached an all-time high of Rs. 150 in the open market.
Money changers are claiming that the price of rupee is following continuously due to which the market has become unstable. People are buying dollars as they can sell it at a higher price.
When the PTI government came into power, the dollar valued at Rs.123. But it has depreciated continuously and now it has reached over Rs144.
International Monetary Fund (IMF) and Pakistan government have reached a $6 billion deal, leading to a hike in dollar value. This hike in dollar price will affect the industries in Pakistan and negatively impact the daily lives of the people.