KARACHI: Dollar breaks all the previous records during the trading on Thursday and surge of Rs.3.40 was witnessed in the interbank market which was controlled by the intervention of State Bank of Pakistan (SBP), ARY News reported.
In the interbank market the rupee ended weaker at 106.70/106.90 against the dollar while at 109.50/109.75 in open market on Thursday.
According to currency dealers Pakistani rupee is unstable and it is exchanged on the buck rates, which is a significant loss.
According to analysts Pakistans currency surrendered the gains owing to the resurging demand of dollars. The market is witnessing a shortage of the foreign exchange, creating panic in the foreign exchange market.
Economic experts complained that the government was doing nothing to shore up the nose-diving rupee the penalty of which could be ominous for the economy of Pakistan.
source
In the interbank market the rupee ended weaker at 106.70/106.90 against the dollar while at 109.50/109.75 in open market on Thursday.
According to currency dealers Pakistani rupee is unstable and it is exchanged on the buck rates, which is a significant loss.
According to analysts Pakistans currency surrendered the gains owing to the resurging demand of dollars. The market is witnessing a shortage of the foreign exchange, creating panic in the foreign exchange market.
Economic experts complained that the government was doing nothing to shore up the nose-diving rupee the penalty of which could be ominous for the economy of Pakistan.
source
