ISLAMABAD – Pakistani Rupee bounces back against US dollar yet again.
The Pakistani Rupee gained some strength in the money market as the valueof the US Dollar on Thursday further decreased by Rs1.70 in the interbankmarket, a private media outlet reportedlink.
The decline in greenback, which settled at Rs148.70 in the interbankmarket, also dictated the open market, forcing the dollar to shed its valueby Re0.50 to Rs149.50.
According to currency dealers, stability started returning to the moneymarket as external payments had been made. Some sources in the market saidthat the State Bank of Pakistan’s (SBP) off the record warning tocommercial banks against unnecessary acquiring of the dollar also playedits role in bringing the value of the greenback down.
Read Top Stories
Primary dealers expressed hope that the factors, in addition to risinginflows of remittances, would further push the greenback to shed its valuein the currency market.
