Dollar’s value falls by Rs 5.36 in interbank market
KARACHI: The value of US dollar on Monday was recorded Rs 122.50 after a fall of 5.36 rupees in interbank market while Rs 4 in open market.
Exchange currency association also confirmed the news that after a period of 4 years, a prominent decline in the value of dollar is seen today, in interbank market.
It is pertinent here to mention that, on July 27, the dollar value started to decline right after General Election 2018, and was recorded as Rs 127.86 in interbank market.
Moreover, economists had also predicted more decline in dollar value with establishment of a stable democratic government.
Earlier, Pakistan capital recorded fresh gains, registering an increase of more 740 points as Pakistan Tehreek-e-Insaf edged closer to victory in the election 2018 securing better than market expectation which denotes that “tabdeeli sets”.
Stock market in two trading sessions gained 1624 points. Pakistan Rupee appreciated by 10 paisa against Dollar to close at Rs128.17.
During Tuesday and Thursday trading sessions, rupee gained 33 paisa whereas Dollar in open market fell by Rs1.10.
Dollar in open market floated at around Rs128.90 and closed at Rs130 on Tuesday. Since Monday dollar has lost Rs2.10 in the open market.