*ISLAMABAD – The dollar dropped 40 paisa against the rupee and was sellingat Rs139.60 in the early hours of the open market trade on Monday.*
The green back fell slightly below its closing price of Friday when it wastrading at Rs140. The dollar has been hovering at the level of Rs140 fortwo weeks, an indication that it has become stable for now. A similar trendwas observed in the inter-bank market where it fell slightly and traded atRs138.95 when trading opened.
On November 30, the dollar jumped Rs9.5 to Rs143.5 in the interbank marketin what remains its highest intraday gain and highest ever level in itshistory respectively. However, it has come down to Rs140 since then.
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The surge in dollar price against the Pakistani rupee is due to the changein our exchange rate policy and rising value of dollar in internationalmarket. All major currencies that were pegged against the dollardepreciated this year.
