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Rupee Gains Rs2.32 against US Dollar, Continues to Stabilize

On Thursday, the rupee continued its upward trend as the rupee value increased by Rs.2.32 against the dollar in the interbank market at the beginning of the business day. However, the rupee is trading at Rs.221.75 in the interbank market and Rs.222-224 in the open market.

Pakistan stock exchange market is witnessing a positive trend today as 100 indexes increased by more than 242 points, while the index was seen trading at 41 thousand 854 points during the business.

Since last Monday, the dollar has decreased by 18 rupees during interbank business sessions and experts say that it is likely to decrease further in the coming days. The new Finance Minister of Pakistan Ishaq Dar had claimed that the dollar would reach 200 rupees in 24 days.

According to him, the dollar went up to 240 Rupees due to political instability. Ishaq Dar said in an interview, “The rupee’s real value is below 200 (to $1), and, God willing, it will come below 200 rupees”.

He further said that Government is making further “policies” to improve the value of the rupee in the market against the dollar. Ishaq Dar added that he has always been against devaluation, he will bring the rate of inflation to 12 to 14 percent.

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