Dollar falls to Rs149.74 in interbank market

KARACHI: The US dollar fell below Rs150 in the interbank market on Monday after witnessing record highs the previous week.

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Down by Rs1, the dollar was trading at Rs149.74 in the interbank market and was down Rs2.16 in the last three sessions.

The rupee fell record low against the US dollar after the announcement of a $6 billion bailout agreement with the International Monetary Fund (IMF) forecasting a “market-determined rate” for the Pakistani currency.

Since the past week, the rupee lost 3.74% against the dollar in the interbank market, with the currency cumulatively losing 37.45 since January 2018.

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