Rupee freefall continues as US dollar hits Rs240 in interbank
KARACHI: The rupee’s losses continued on Thursday as the local currency dropped to Rs240 against the dollar in the interbank market, ARY News reported quoting forex dealers.
According to forex dealers, the greenback surged by R10.11 against the local currency in the interbank market and was traded at Rs240.
The dollar is being sold at Rs250 in the interbank market, the forex dealers said.
On the other hand, the dollar is being traded between Rs242 to 245 in the open market.
Read more: Dollar crosses Rs250 in open market after exchange rate cap removed
On Wednesday, the Pakistani rupee depreciated against the US dollar in the interbank and open markets after the Exchange Companies Association of Pakistan (Ecap) removed an unofficial cap on the exchange rate.
According to forex dealers, the USD was being traded at Rs252.50 in the open market at 12pm against Tuesday’s close of 240.75.
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