KARACHI: The rupee continued to take a hit against the greenback as its value saw an increase of Rs1.25 and jumped to Rs197 in the interbank market. According to several journalists and news anchors, the dollar was trading at Rs200 in the open market.
Journalist Mubashir Zaidi shared a video on Twitter in which the Forex Association President could be seen claiming that Prime Minister Shehbaz Sharif did not know that dollar was increasing at interbank market too.
Plz kill me…according to Forex Association President our PM @CMShehbaz thought dollar is only increasing in open market and not at interbank @adeel_azhar @AribaShahid https://t.co/lrPzIbnAJX pic.twitter.com/40MutSJBb4
— Mubashir Zaidi (@Xadeejournalist) May 16, 2022
Dollar has been gaining momentum against the local currency due to the widening trade deficit and the government’s indecisiveness to take strong economic measures to curb the economical and political crises currently prevailing in the country.