US dollar reached a high of Rs. 176.5 against Pakistani Rupee


On Friday, the Pakistani rupee continued to lose ground versus the US dollar in the interbank currency market.

In intra-day trading in the interbank market, the local unit declined by 28 paisas to Rs175.26 against the greenback, according to foreign currency traders. The dollar has just ended at Rs174.98 against the rupee. The dollar, on the other hand, is currently trading at Rs176.50 against the local currency on the open market.

Earlier today, Shaukat Tarin, the Prime Minister’s Financial Adviser, blamed speculators (the “satta mafia”) for the local currency’s depreciation.

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