US dollar hits new heights against rupee in interbank
The forex dealers says the dollar gained value by Rs3.79 against the rupee in the interbank and traded at Rs214.74.
ISLAMABAD: (UrduPoint/Pakistan Point News-July 18th, 2022) The US Dollar on Monday touched historic high against the rupee in the interbank amid political uncertainty in the country.
The forex dealers said that the dollar gained value by Rs3.79 against the rupee in the interbank and traded at Rs214.74.
The greenback traded between Rs215 and Rs216 in the open market.
The rupee fell down a day after Pakistan Tehreek-e-Insaf (PTI) emerged as victorious
in the majority of the seats in the crucial by-polls on the 20 Punjab Assembly seats.
The unconfirmed and unofficial results said that the results of 20 seats were finalized, with PTI clinching 15 and PML-N winning just four.
The results made PTI the leading party in the Punjab Assembly along with PML-Q, paving way for the removal of CM Punjab Hamza Shahbaz, further creating problems for the PM Shehbaz Sharif-led Federal government.
The rupee made some gains in the previous week after the International Monetary Fund (IMF) and Pakistan reached a staff-level agreement for the release of US$1.17 billion under the combined 7th and 8th reviews of Pakistan’s Extended Fund Facility (EFF).