The cost folks dollar in opposition to rupee on Wednesday touched an all-time high of Rs146.25 inside the open market, NewsTV mentioned.
The greenback's fee accelerated with the aid of Rs2.
read more: Pakistan reaches settlement with IMF, to receive $6 billion over 3 years
earlier on Monday, the united states dollar had received Rs2 against the rupee within the open market as there were strong speculations that rupee will depreciate considerably after signing of a bailout agreement with the worldwide monetary Fund (IMF).
The IMF pointed out a “market determined change rate” in its statement on the programme, and the monetary markets have no longer taken the words thoroughly. Hypothesis has broken out inside the forex markets, with small and big investors searching toward the greenback.
"The capability for better fee of dollar is visible within the inter-bank cash marketplace," a banker changed into recently quoted as announcing.
“Fears of further devaluation because of the settlement with the IMF have depressed the foreign money market and the rupee can also lose more in opposition to the dollar within the coming days,” Secretary widespread of trade groups association of Pakistan Zafar Paracha had said on Monday.
maximum of the foreign money dealers and professionals have already expressed their unhappiness over the undisclosed situations agreed among the IMF authorities and the government.