US dollar strikes back as Pakistani rupee tumbles

The Pakistani Rupee (PKR) snapped its gaining streak and depreciated by Rs1.94 in intraday trade against the US dollar on Tuesday in the interbank.

According to details, the greenback closed at Rs206.94 against the local currency compared to Rs204.56 in the previous session close in the interbank.

A day earlier, Federal Finance Minister Miftah Ismail termed the news of the postponement of the International Monetary Fund (IMF) program as fake.

Taking to Twitter, Miftah wrote that connecting the IMF program to anti-corruption law is ridiculous.

He further wrote in his tweet that he was reading all the tweets and stories and there is no truth in this news. The IMF program is on track, he added.

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