KARACHI – Pakistani Rupee bounces back against US dollar in open market.
The US dollar on Friday depreciated as the Pakistani rupee gained 71 paisaagainst the greenback in the interbank market and traded at Rs157.52.
In open market, the value of the green back was recorded at Rs1157.90 aftera decline by 90 paisa.
The dollar in the open market dollar slipped by Rs6.10 in two months afterthe green back in open market on June 27 reaches to all time high of Rs164.
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According to details, the dip in the US dollar has reduced the debt burdenby Rs 600 billion. It is worth mentioning here that the greenback hadreached all-time high of Rs164.25 in the interbank market on June 27 thisyear, and has downed by Rs6.75 since its peak.
In the earlier weeks, the rupee had been observed to cumulativelydepreciate against the greenback, which in turn had resulted in increasedprices of goods and hardships for the general public.
