Dollar reached to Rs141.35 in foreign exchange market

KARACHI: The US dollar was trading at Rs141.35 in foreign exchange market on Wednesday.
The rupeeā€™s value is decreasing against the US dollar, as it reaches to the top of Rs141.35 today after surge of 26 paisas in the foreign exchange market.
The experts had predicted the dollar may touch Rs150 but the recent dollar inflow has prevented the rupee from falling to that level.
Presently, Pakistan is re-conciliating a loan package from the International Monetary Fund (IMF) but a improvement in talks is awaited.
Experts say the IMF will set difficult economic reform targets for Pakistan including a free-float exchange rate, which may result in further devaluation of the rupee.
Read more : Rise in dollar rate does not make a difference: info minister
Lately, in a historic surge on November 30, the value of the dollar shot up by Rs8 in the foreign exchange market resulting the dollar rate to reach up to Rs 142 against Rs 134 trading on November 29.
The current account loss was said to be reason behind the increase. However, the rupee had recovered against the dollar in the open market on December 3 as the dollar fell by Rs 3 to Rs 136.–HADISA

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