US dollar hits another all-time high at Rs149

The US dollar touched a new record high of Rs149 in the interbank market on Friday morning, as the rupee continued to slide following Pakistan’s $6 billion bailout agreement with the International Monetary Fund earlier this week.

The greenback gained by another Rs2.48 in the interbank market to reach the latest peak. It is currently being bought for Rs147 in the interbank market.

On Thursday, the dollar hit a high of Rs147 in the open market, and was at Rs146.25 in the open market on Wednesday, before it bounced back to Rs144 the same day.

“Until the foreign exchange reserves situation improves, there is no chance of the dollar coming down,” President Forex Association of Pakistan Malik Bostan said.

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