LAHORE – The US dollar on Saturday crashed against Pakistani rupee whiledropping further by more than 3 rupees in open market.

In two days, the rate of Dollar has reached Rs123.75 after dipping byRs4.75.

Forex Dealers Association says that the confidence of business communityrestored due to peaceful elections and occurrence of possible PTIgovernment in the country.

The individuals involved in dollar stocking also prefer its sale.

At least four million dollars have been sold in open market from Fridaytill date which can further decline the rate of dollar, added theassociation.

According to a leading money changer, speculators foresee that there is alittle chance that dollar would climb to new highs in short term. A sellingspree was witnessed at the money changers and there were no buyers and onlysellers.

There were speculations that the new government would ask support fromfriendly countries, donor agencies and even financial institutions to bailout the economy from the present gloom.