ISLAMABAD – The dollar on Saturday continued to lose its value againstrupee while dropping further by Rs1.5 in open market.
In a week, the rate of dollar has reached to Rs 125 after dipping by Rs6.50.
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 marketfrom Friday till date which can further decline the rate of dollar, addedthe association.
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.