Rupee Touches Historic Threshold Of 200 Against US Dollar

Abdullah Hussain (@Abdulla99267510) Published May 18, 2022 | 02:46 PM

The rupee continued to slump in the intrabank trading and plunged to another Rs 2.1 to yet another historic low of Rs197.25 against the greenback during intraday trade, despite suspected intervention by the central bank.

KARACHI: (UrduPoint/UrduPoint / Pakistan Point News-May 18th, 2022) The Pakistani rupee reached critical threshold of 200 in the open market against the US Dollar.

The fall out happened during intraday trading after shedding Rs2 on Wednesday (today).

The rupee continued to slump in the intrabank trading and plunged to another Rs 2.1 to yet another historic low of Rs197.

25 against the greenback during intraday trade, despite suspected intervention by the central bank.

The rupee was being traded at a new all-time low at Rs197.25 at 10:23am against the greenback, compared to Tuesday’s close of Rs195.74, according to the forex Association of Pakistan.

The status of the local Currency is at downturn as Pakistan started talks with the International Monetary Fund (IMF) in Doha today for the revival of the stalled multibillion-dollar loan programme.

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