The dollar will hit the lowest level in 6 months

The dollar will hit the lowest level in 6 months

The dollar will hit the lowest level in 6 months

At the Interbank, the dollar rose further by Rs 15 to Rs 154 by 90 paise

KARACHI (Erdo پوائنan points newspaper - December 09, 2019) US currency at Interbank fell to the lowest level in 6 months. In the interbank, the trade continued to trade at Rs 154 at 90 paise. The dollar has dropped 8 paise to 60 paise at its highest level. Decreased

In the open market, the value of the dollar fell to Rs 154.70 last week, which is the lowest dollar in the last 5 months. On Saturday, the dollar in the open market fell by Rs. The price was Rs. 164. Thus the dollar value has dropped significantly in five months.

Currency dealers have said that the decline in imports, the collection of dollars from global financial institutions and the promotion of foreign investment in government papers have led to the depreciation of the Pakistani rupee and the value of the rupee in the last five months. The increase has reduced the dollar's value by more than 9 rupees.

Over the past five months, Pakistan's rupee has shown signs of recovery after falling against the dollar on Sunday. As of Sunday, the UAE's exchange rate for 1 dirham has declined to Rs 42.14 from June 44 compared to Rs 44.58, indicating that the rupee is strengthening. The report said that the rupee in the open market rose to a five-month high as imports declined due to falling demand for greenback, while lending institutions raised dollar and government papers. Foreign investment has helped the rupee to strengthen against the dollar, as currency dealers are expected to increase the rupee in the coming months as a result of the dollar's rise and the local currency's focus.
Monday 9 December 2019