Dollar drops to Rs97

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KARACHI: The US dollar plummeted to Rs97-level on Monday, continuing its depreciation from the previous week.

According to forex.pk, the greenback was being bought at Rs97.70 and sold at Rs97.90 in the interbank market. However, in the open market the dollar was being sold at Rs100.40 and bought at Rs100.15, registering a slight decrease in its value from the previous day.

The International Monetary Fund (IMF) is expected to approve a third tranche of $55 million for Pakistan today.

Last week the dollar dropped to Rs98.10 in the interbank market and currency dealers had predicted further devaluing of the greenback this week.


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