The Pakistani rupee continues to gain ground against the US dollar. Currency dealers have projected that the US dollar will be valued under Rs100.
According to Forex dealers, the US dollar depreciated by Rs1.12 at the start of trading and was valued at Rs102.
In the open market the dollar decreased from Rs103.45 and was being traded at Rs101.90.
It might be artificial because the rumors led investors to sell foreign exchange in open market, increased the dollar supply, price falls down, rupee strengthens but everything else remains the same. Its impact on export might lead the government to take it back. I really hope that rupee remains strong so there’d be a fall in inflation.
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