US Dollar skyrockets to Rs146.25 against PKR
The dollar witnessed an increase of Rs2.25 against the Pakistani currency, days after Adviser on Finance Abdul Hafeez Sheikh confirmed reaching an agreement with the International Monetary Fund (IMF).
Pakistan would be given $6 billion bailout in three years by the international lender as part of the agreement.
The international lender has been seeking a free flow of Pakistani currency against the greenback, a visible indication of which could be today's exchange rate.
The increment in the value of Dollar against the Pakistani currency would lead to inflation as imports would become more expensive, however, the devaluation could spur exports.
- Two kids drown in River Chenab08:02 PM | 25 May, 2020
- Predatory cop shoots teen boy dead in Kasur on Eid07:24 PM | 25 May, 2020
- Lahore temperature hits 44°C on second day of Eid07:04 PM | 25 May, 2020
- PML-N’s Nehal Hashmi tests positive for COVID-1906:59 PM | 25 May, 2020
- KP chief secretary tests positive for COVID-1905:40 PM | 25 May, 2020
- How much does Ahmed Shah earn from Fahad Mustafa’s Jeeto Pakistan?08:41 PM | 23 May, 2020
- Zara Abid presumed dead, not amongst the survivors of PIA plane crash05:13 PM | 23 May, 2020
- Netflix announces Élite season 4 with returning cast members04:07 PM | 23 May, 2020
- When Is Eid Al Fitr 2020? ... So The Curiosity Begins!06:42 PM | 12 May, 2020
- Top five health benefits of eating watermelon04:08 PM | 7 May, 2020
- How to lose weight during Ramadan Kareem03:18 PM | 28 Apr, 2020
- Ramadan 2020: Keep yourself healthy with these 5 nutritional tips12:49 PM | 23 Apr, 2020