After the Pakistan-IMF loan agreement, the US dollar has plunged by five rupees in the open market on Monday as the sellers lined up to sell the greenback, reported 24NewsHD TV channel.

Exchange Companies Association President Malik Bostan divulged to the TV channel that the people are out to sell their dollars in greater numbers and some companies have run out of the cash to meet the demand.

The greenback depreciated by five rupees in the open market and was currently being traded at Rs285.

The interbank market is closed today due to bank holiday.

Reporter Ashraf Khan