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International News

May 17, 2019
7:31AM

Pakistan’s currency reaches all-time low against US dollar

AFP
Pakistan's currency hit an all-time low against the US dollar after it dropped to Rs 148 per dollar in the inter-bank market. 

The devaluation followed bailout package by the International Monetary Fund (IMF) in the weekend. 

The IMF agreed to provide USD 6 billion to Pakistan under stringent conditions, including a higher role of market forces in determining currency rates. 

Opposition parties blamed Imran Khan-led PTI government's policies for weakening the national currency. Maryyium Aurangzeb of PML-Nawaz said in Islamabad that the prime minister is responsible for the mess in which he has landed the country. 

In August last year, when Khan took over the government, one dollar was equal to Rs 124. 

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