The U.S. Dollar has reached an all time high at Rs147 in inter-bank, a day after jumping to Rs146 in the open market.
According to sources, the greenback gained by Rs5.61 – approximately 4 percent – to be sold for Rs147 in the interbank market. It is currently being bought for Rs146 in the interbank market.
Taking notice of the devaluation of rupee against the US dollar, Prime Minister Imran Khan had ordered crackdown action against money changers companies selling dollar above market rate.
As per details, the PM had chaired a special meeting to review sudden surge in the dollar’s value. The meeting also had a delegation of E-Commerce Association of Pakistan (ECAP) in presence.
For more than a year now, Pakistan has struggled to stave off a looming balance-of-payments crisis while its economy teeters due to low growth, soaring inflation, and mounting debt.