Pakistani Rupee to register surprise jump against US dollar: Report
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*ISLAMABAD - **Pakistani Rupee to register surprise jump against US dollar, Media Report has surfaced.*
*The head of the Forex Association of Pakistan, Malik Bostan, believes the rupee is going to appreciate against the dollar by five to six rupees.*
He said they had appealed to the nation to boycott the dollar and believes their efforts worked. In the next few days, its value will go up by five to six rupees in both the interbank and open market, he claims.
The rupee appreciated by Rs0.53 against the dollar on Friday. It closed on Friday at Rs150.91 in the interbank market and Rs151.70 in the open market.
This is the highest the dollar has ever been against the rupee.
The value of the rupee dropped soon after Pakistan signed a three-year $6 billion bailout agreement with the IMF. It touched its highest rate of Rs153 in the open market on May 21.
