Dollar reaches all-time high of Rs272 in interbank
The greenback gained Rs3.17 and was being quoted at around Rs272.
KARACHI (Dunya News) - The US dollar continued its ascent on Thursday against the Pakistani rupee and was being traded at a new all-time high in the interbank market.
The greenback gained Rs3.17 and was being quoted at around 272 against the local currency compared to previous session close of Rs268.83.
According to experts, the local unit is being pressurized by the delay in the IMF tranche and rising political and economic uncertainty in the country.
Economic experts and business community fear that extraordinary weakening of the rupee will not only trigger inflationary pressures in the consumer markets, but also multiply cost of loans.