*ISLAMABAD – Pakistani Rupee has gained against the US dollar in the openmarket.*
*The dollar dropped 40 paisa **against the rupee and was selling atRs139.20 in the early hours of the open market trade on Wednesday.*
The greenback fell slightly below its closing price of Monday when it wastrading at Rs139.60. The dollar had been hovering at the level of Rs140 fortwo weeks before it fell below that mark, an indication it has becomestable for now.
On November 30, the dollar jumped Rs9.5 to Rs143.5 in the interbank marketin what remains its highest intraday gain and highest ever level in itshistory respectively. However, it has come down to Rs139 since then. Theinterbank rate is the benchmark rate that determines the rupee’s valueagainst the US dollar and usually remains slightly below the open marketrates.
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Since December 2017, when a dollar was worth Rs106, its rate hasappreciated more than 30% against the rupee, witnessing two of its biggestever single day jumps in the short span of one-and-a-half months.
