The rupee lost one rupee and fifteen paisas versus the dollar on Tuesday, hitting a record low of Rs205 in the interbank market as concerns over the IMF rescue plan grow.
The State Bank of Pakistan reports that the interbank rate for the greenback was Rs203.86 on Monday.
USA’s ambassador to Pakistan, Donald Blome led a group to the stock exchange on Tuesday, where they rang the bell to officially open trading.
“I’m glad to be here,” he said on his visit. It is his first time in Karachi, he said, and he was thrilled.
The nation still believes in expanding bilateral cooperation after 75 years of Pakistan-US ties.
Blome lauded the involvement of US corporations in Pakistan’s stock market and urged more American companies to come to Pakistan to do business.
In order to enhance commercial ties with Pakistan, Blome added, “We must take action.”
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