ISLAMABAD: The US dollar today set the new record in Pakistan by surpassing 203 rupees level in the inter-bank trading. On Tuesday morning, dollar-rupee exchange rate climbed to 203.10 rupees in the inter-bank and up to 207 rupees in the open market.
There seems no end to unbridled flight of dollar versus poor rupee in the country. Delay in the IMF tranche, and disbursement of financial assistance by China and other friendly countries has led to rapid depreciation in the value of rupee.
New government, comprising multiple parties alliance, appears indifferent to the dollar’s dredging of rupee value. Despite ban on non-essential and luxury items import, consistent depreciation of rupee value against dollar and other major currencies has shocked everyone in the country and overseas Pakistanis.
