Dollar soared to a new high in the interbank market due to political uncertainty in the country and was traded at Rs240 on Thursday.
The rupee lost 3.98 during the intraday trade. The local unit closed at 236.02 per dollar on Wednesday, falling by 1.31% during the session.
In the international market, the dollar is strengthening against all other world currencies, and the rupee is no exception. Even though imports are reducing, Pakistan’s external account concerns have not yet been resolved.
Although the IMF has agreed to disburse a $1.2 billion loan disbursement, the inflows have not yet occurred because the executive board’s final approval is still pending.