ISLAMABAD – The US dollar continues to slide in the open market and is nowtrading at its lowest level in two months.
The green back fell slightly, by 20 paisa to be precise, on Wednesdaymorning and traded at Rs138.3. The last time the dollar traded around thislevel was on December 4.
The dollar had kept buyers and sellers on their toes last year because ofvolatility in its prices and hit its all-time closing high of Rs140.3 inNovember last year. It fell below that level shortly after but mostly kepttrading above Rs139.
However, in the last two weeks the dollar fell by nearly Rs1 and reachedits current level. The dollar’s downward slide comes after the centralreceived dollars from friendly countries that helped its foreign exchangereserves jump to a five-month high.
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In 2018, the dollar appreciated 27% against the rupee, witnessing two ofits biggest ever single day jumps in the short span of one-and-a-halfmonths. It was one of the most volatile years in terms of exchange rateuncertainty.
