Dollar reaches record Rs151.95 in interbank market ahead of budget

F.P. Report

KARACHI: The US dollar has reached record high on Tuesday in the interbank market ahead of federal budget.

According to local news channel report, the dollar reached Rs151.95 after gaining Rs1.85in the interbank market.

A day earlier, fluctuations in the US dollar against the rupee continued as the market opened on Monday.

The greenback increased by Rs2.15 in the interbank market at the beginning of the day. After the increase, the price of dollar reached Rs150.75, whereas, in the interbank buying of dollar became Rs150.50.

Last month, the rupee registered record lows against the US dollar following the announcement of a $6 billion bailout agreement with the International Monetary Fund foreseeing a “market-determined rate” for the Pakistani currency.