ISLAMABAD – The US dollar has registered decline against Pakistani Rupee inthe open market.
As per the media report, US dollar fell slightly against the rupee in theopen market on Wednesday morning but traded close to the level it hasmaintained for the past two weeks.
The greenback was trading at Rs139, down 30 paisa from the previous day’sclose. The dollar has been hovering at this level for two weeks now, anindication that it has achieved stability compared to a volatile 2018 whenit kept buyers and sellers on their toes.
Since hitting its all-time high of Rs140.3 in November, the dollar has beentrading below that mark for three weeks and showed no major fluctuations.
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Last year, the dollar’s rate appreciated 27% against the rupee, witnessingtwo of its biggest ever single day jumps in the short span ofone-and-a-half months.
The dollar rose against all major currencies pegged against it, but onMonday it fell slightly after investors put to rest the expectations offurther rise in the interest rate of American central bank, which wouldcould make the dollar stronger.
