Dollar continues to shed value against rupee
Business
Dollar continues to shed value against rupee
KARACHI (Dunya News) – The rupee continues to gain value against the dollar and thus the greenback is getting cheaper and cheaper every day for the last few days in interbank and open market.
The interbank dollar price fell by Rs2 and at the end of day interbank dollar closes at Rs302.95.
In the open market, the price of the dollar recorded a decrease of Rs3 and the dollar is selling at Rs305 in the open market.
The difference between the open market and the interbank has declined to merely 1 percent.
Read more: rupee appreciates by Rs7 against US dollar in open market
Earlier, the Pakistan rupee’s substantial gains against the rival US dollar in open market during early trading on Wednesday, with the exchange rate hovering around Rs315, as the continuous slide in its value has crippled the economy while pushing the prices even higher.
It means the rupee has received a Rs7 during the session – a development that would install confidence in the business community which suffers from rising cost of doing business, making it impossible to improve or expand trade or industries.
