Dollar climbed to record Rs186.13


KARACHI: The rupee remained under pressure amid a deepening political crisis as it lost another 90 paise against the US dollar in the interbank market on Wednesday.

The dollar climbed to a record Rs186.13 against Rs185.23 the previous day.

Currency dealers said the importers had been facing problems in arranging dollars to make payments.

While the government itself is in crisis due to the political situation, the policymakers are not giving a clear vision of the day-to-day fall of the rupee.

Traders and industrialists say the free float exchange rate idea is not working and have been appealing to the State Bank of Pakistan to play its role in bringing stability as the exchange rate volatility is posing a serious threat to the economy.

They said the production cost has already jumped by 20pc due to the steep rupee fall that has sharply increased the import cost of raw materials.

You May Also Like


Ayatollah Ali Khamenei cast doubt on Baghdad commitment

TEHRAN: Iran’s supreme leader Ayatollah Ali Khamenei cast doubt on Baghdad’s commitment


Less than fifty per cent Christian in England Wales

LONDON: Fewer than half of people in England and Wales identify as Christian, according


Pakistan US to combat TTP: US State Dept

WASHINGTON: The United States and Pakistan have a shared interest in combating