KARACHI: The US dollar touched a historic high in the interbank market right before the announcement of the federal budget for the fiscal year 2019-2020 on Tuesday.
With an increase of Rs1.85, the dollar reached Rs151.95 in the interbank market today.
After a slight recovery of rupee against the US dollar, it again started to weaken in the open market from Monday.
The greenback increased by Rs2.70 paisas in the open market and was being traded at Rs151.50 a day earlier.
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In the month of May, the rupee consistently slid down when it reached the highest level of Rs153 against the greenback on May 21.
It may be noted that the rupee went into free fall following three days when PM’s adviser on Finance Abdul Hafeez Sheikh announced the finalization of a three-year bailout with the International Monetary Fund (IMF) for $6 billion.
On the other hand, the Pakistan Tehreek-e-Insaf government is all set to unveil its first federal budget later today.
