Popular Post

Amendments to Charge Heavy Taxes on Big Industries are Passed by Parliament
News

Amendments to Charge Heavy Taxes on Big Industries are Passed by Parliament

Shan Masood is upbeat about Derbyshire's upcoming match against India.
Cricket

Shan Masood is upbeat about Derbyshire's upcoming match against India.

A List Of Nutritious Foods You Can Consume Without Gaining Weight
Health

A List Of Nutritious Foods You Can Consume Without Gaining Weight

Texas and Pakistan are establishing stronger commercial relations.
Politics

Texas and Pakistan are establishing stronger commercial relations.

Complete Paper Pattern for MDCAT 2022 Released
Education

Complete Paper Pattern for MDCAT 2022 Released

The rupee has reached a new high of Rs206 against the US dollar

  • qurratulain
  • 2022-06-15 13:09:16
  • News
The rupee has reached a new high of Rs206 against the US dollar

Description:

Currency depreciated for the fourth straight working day as the IMF program"s recovery remained questionable.

The rupee has continued to fall, crossing Rs206 against the US dollar for the very first time in the interbank market on Wednesday, as expected.

A currency market trader stated at 9.45 a.m. that the domestic currency was trading at Rs206.09 against the US dollar, down Rs0.93.

The rupee has fallen for the fourth consecutive working day, losing a total of 2.65 percent (or Rs5.32) thus far.

The central bank appears impotent to stem the speculative decline of the rupee, with BMA Capital Executive Director Saad Hashemy projecting the domestic fair value at Rs190 against the greenback.

Finance Minister Miftah Ismail stated on Monday that eliminating petroleum product subsidies until July is necessary to keep the country from going bankrupt, implying that fuel prices will rise again after breaking records earlier this month.

"Markets are uncomfortable due to the uncertainty regarding the IMF loan programme," Dr Khaqan Najeeb, a former adviser to the Ministry of Finance, told the Express Tribune.

He went on to say that the country should have started the process of resurrecting the halted credit programme a few months sooner.

Qurratulain Junaid
Chief Content Officer

A tech enthusiast, writer, researcher and strategist working on the latest technologies and making an impact. Qurratulain has been heavily focused on building communities, empowering people through technological trends and advancements for over 3+ years.


[email protected]

You may also like

Popular posts

CM Punjab election: Lahore High Court orders recount minus 25 de-seated MPA votes
Politics

CM Punjab election: Lahore High Court orders recount minus 25 de-seated MPA votes

  • 2022-06-30 14:50:25
The FIA arrests a gang for training black magic on YouTube
News

The FIA arrests a gang for training black magic on YouTube

  • 2022-06-30 13:49:08
NA stamps IMF-dictated Rs9.6tr federal outlay
Politics

NA stamps IMF-dictated Rs9.6tr federal outlay

  • 2022-06-30 13:46:49
Launching the vivo Y55 in Pakistan with an Amazingly Fast Processor and a Massive Battery
Telecom

Launching the vivo Y55 in Pakistan with an Amazingly Fast Processor and a Massive Battery

  • 2022-06-30 13:33:32
Katrina Kaif's new film 'Phone Bhoot' will release on October 7
Bollywood

Katrina Kaif's new film 'Phone Bhoot' will release on October 7

  • 2022-06-30 13:19:02

Pages

Subscribe our Newsletter!

Subscribe to our email newsletter to receive useful articles and special offers.