Daily Times

The US Dollar continued its flight on against rupee as it is being traded at a new all time high of Rs228.50 in the interbank market. The rupee fell down by Rs1.69 after the business day started in interbank. On other hand, dollar gained Rs1 in Open Market and is being traded at Rs229.50. The economic experts believe that the downfall of Pakistani rupee against the US dollar is due to the political uncertainty in the country. The decline in the rupee’s value continued after rating agency “Fitch” downgraded Pakistan’s rating, increased Euro-bond yields and no active supply from the State Bank. Pakistan has to receive yet the tranchefrom IMF after the Fund agreed and announced to it earlier this month.