Nothing to Clip Wings of Flying Dollar, Soars to Rs 173
The economists said the rupee depreciation is being done on the demand of IMF coupled with the swelling current account deficit
Seems like the US dollar has set the sky as its limit against the Pakistani rupee as it reached Rs 173 in the interbank market on Monday noon.
The Pakistani rupee has fallen to an all-time low against the greenback and it shed almost Rs 2 to take the US dollar to the historic high.
The US dollar opened at Rs 170.53 and closed at Rs 171.18 last Friday.
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The economists said the rupee depreciation is being done on the demand of the International Monetary Fund (IMF) coupled with the swelling current account deficit.
They believe that the $1 billion loan tranche from IMF will save the Pakistani rupee from further depreciation.
The financial experts have demanded the government to take immediate steps to clip the wings of the US dollar as it will take inflation to a whole new point.
