LAHORE – Pakistani rupee on Monday plunged to Rs129.5 against thegreenback in the kerb market, as the continuing uncertainty on the economicand political front batter’s currency and capital markets.
The rupee nosedived by Rs2.10 against the dollar in the open market, as thecurrency dealers refused to exchange the greenback in Karachi, according tomedia reports.
However, the inter-bank market rate of the rupee to a dollar stood at124.27 according to SBP’s market to market revaluation rate sheet.
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Consequently, as the supply of dollars dries up in the open market, it willpush up demand creating a dearth of the greenback and rupee is expected tonosedive further.
