Pakistani Rupee rises further against US dollar in the open market

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Pakistani Rupee rises further against US dollar in the open market

KARACHI: The rupee gained 10 paisa to close in at Rs155.60 against the dollar in the open market on Friday.

According to Forex dealers, the rupee also gained slightly in the interbank market as it ended at Rs155.23 against the greenback.

Earlier, on Nov 22, Prime Minister Imran Khan had slammed the previous government for, what he said, spending reserve dollars to stabilise and maintain the value of the local currency against the dollar.

As a result of the PTI government’s correction strategy, he added, the value of the rupee against the dollar depreciated by 35 per cent.

Prime Minister Khan said he was grateful that the rupee depreciated by “only 35pc” as it could have depreciated to Rs250 against the greenback due to the external accounts’ situation.

He held the rupee devaluation responsible for spike in inflation, saying: “We didn’t increase the inflation.”

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