Dollar touches to 142 all-time high in interbank market

The US dollar touched the sky again with the gain of Rs.8 (a five percent increase) in the interbank market on Friday. It stood at Rs.139.5 when the market closed on Thursday night.

The rise in dollar owes to the widening current account deficit and International Monetary Fund’s (IMF) suggestion to the government to realign the rupee. The State Bank of Pakistan (SBP) will announce its monetary policy today. The current policy is 8.5%. The rupee has fallen by Rs.19.5 against the dollar since Pakistan Tehreek-e-Insaf (PTI) took over the government.