US dollar hit all-time high of Rs211.48 in interbank market

KARACHI (92 News) – The US dollar reached a record high of Rs211.48 against the rupee in the interbank market on Tuesday.

The dollar has become expensive by more than Rs 27 since the new government came to power. Even in the open market, the dollar has gone out of control, selling up to Rs215. The devaluation of the rupee has added hundreds of billions of rupees to the country's debt.

According to experts, the dollar’s upward slide against rupee is due to the deadlock between the government and the International Monetary Fund (IMF) over a deal.

Economists have called on the government to take immediate action to streamline the economy.