Dollar reaches Rs211.75 during intra-day trading

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The Pakistani rupee continued its losing streak against the US dollar on Tuesday and lost Rs1.79 during intra-day trading.

The dollar was trading around Rs211.75, after appreciating by Rs1.79 against Monday’s record high of Rs209.96.Meanwhile, dollar at open market rose by Rs1.5 and was being traded at Rs215.50. Dollar since arrival of new government, the greenback has gained Rs30.50

According to experts, the rupee’s downtrend could be attributed to widening current account deficit, depleting foreign exchange reserves and delay in the revival of the IMF program.

A day earlier, Finance Minister Miftah Ismail claimed that the International Monetary Fund (IMF) program will be revived within the next two days.

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