Karachi, June 19 (TNS): The US dollar climbed to a new high of Rs122 in the interbank market on Tuesday, as the Pakistani rupee continued its slide in an apparent sign of vulnerability in the country’s economy.
The dollar gained by a further Rs0.61 against the rupee to touch its new high in the interbank market, forex traders said. The dollar has gained by Rs6.38 in the interbank market since June 8.
The greenback also reached its record high of Rs124.50 in the open market on Tuesday, traders said.
The rupee drop shows signs of vulnerability in the country’s nearly $300 billion economy, and threatens to squeeze consumers ahead of the general election set for July 25.
