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US dollar hits all-time high at Rs144 in interbank trading

US dollar hits all-time high at Rs144 in interbank trading

Sudden devaluation of local currency against the US dollar was witnessed in interbank trading on Friday morning as the greenback hit an all-time high of Rs144.

Sources told DawnNewsTV that the sudden rise of Rs10 in the value of the US dollar is based on the government's commitments to the International Monitory Fund (IMF).

The US dollar, which was being traded at Rs134 yesterday, opened higher at Rs142 on Friday while the local currency further devalued by Rs2 to Rs144.

Details to follow

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