Dollar value falls by Rs1.87 in interbank market
After this fall the dollar was traded between Rs132.50 and Rs133.50.
KARACHI (Dunya News) – The value of US dollar on Friday was recorded as Rs 133.50 after a fall of Rs1.87 in interbank market.
After this fall, the dollar was traded between Rs132.50 and Rs 133.50.
Karachi Stock Exchange (KSE) 100 index in first trading session, lost 846 points after which it was closed at 37,552 points. Rupee in the open market remained under pressure.
On Thursday, Finance Minister Asad Umar and Governor State Bank of Pakistan hold talks with the IMF Managing Director Christiane Laggarde at Bali, Indonesia formally requesting the Fund to lend financial assistance. IMF agreed and assured soon a delegation would arrive Islamabad to hold talks.
This development gave sigh of relief, rather sent strong signals to speculators and hoarders of dollar to sell their greenback holdings, which help the rupee to regain at the open market
The dollar in open market quoted between Rs 133.50 and Rs 133.80 which hints that with financial support of IMF, the thirst of dollar would be subsided and the country would get ample cushion to work of reforms, rehabilitation and revival.
Following the recovery it is expected that the dollar at the interbank might revive for the second time in this year. “When this government came into power the rupee showed remarkable recovery and from Rs 128.50 at interbank it touched Rs 124.25 to a dollar while at open market it recovered from Rs 131.50 to almost Rs 122 level.
