PTI victory in general elections 2018: US Dollar slides down against Pakistani Rupee
*KARACHI: The US dollar showed a downward trend and is recorded at Rs127.90 on Friday morning after decreasing by 21 paisa in interbank market.*
This dollar value is based on the escalating inclination the previous day at the Karachi Stock Exchange (KSE), as soon as the unofficial results were announced declaring the victory of the Pakistan Tehreek-e-Insaf (PTI).
It is observed that in the previous week, US dollar has hit extreme high rate and now it has started to fall gradually. Furthermore, it is expected that the US dollar will continue to drop even more with the creation of a steady egalitarian government.
According to market watch, the stock market achieved 1624 points, resulting in the stability of Pakistani rupee by 10 paisa against US dollar, closing at Rs128.17.
Meanwhile, on Tuesday and Thursday the Pakistani rupee gained 33 paisa, and US dollar depreciated in the open market by Rs1.10.
As per records, US dollar has lost Rs2.10 in the open market since Monday.