US dollar’s freefall against Pakistani rupee picks up pace
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Ever since the return of PML-N stalwart Ishaq Dar to the country, the Pakistani rupee is soaring against the US dollar and also on Wednesday the local currency shot up by another Rs1.79 against the greenback, reported 24NewsHD TV channel.
According to the forex dealers, the rupee dealt another blow to the American currency as the trading took off in the interbank market.
The rupee went up by Rs1.79 and ended the day at Rs232.12. In three days, the US dollar has lost value by Rs7.43.
Interbank closing #ExchangeRate for todayhttps://t.co/v4VsDNfLah pic.twitter.com/kdHo1MFlF2
— SBP (@StateBank_Pak) September 28, 2022
On Tuesday, the Pakistani rupee settled at Rs233.91 with an appreciation of Rs3.11 as the business was halted for the day.
By yesterday, the US dollar has lost Rs5.74 against the rupee. In open market, the US dollar crashed to Rs234 down by Rs3.50.
Interbank closing #ExchangeRate for todayhttps://t.co/6ofbsTsbB7 pic.twitter.com/9xD06V3Pgz
— SBP (@StateBank_Pak) September 27, 2022
Pertinent to note that Prime Minister Shehbaz Sharif nominated Ishaq Dar as the new finance minister as Miftah Ismail has resigned from his post. Ishaq Dar has taken oath as a senator and will be sworn in as the federal finance minister today.
Reporter Ashraf Khan