KARACHI: The Pakistani rupee showed turn down, as it plunged to two monthslow in the open market on Friday, traded at Rs 126 against US dollar.
According to sources, dealers supposed that such decline is the result ofnews that International Monetary Fund (IMF) had recommended furtherdowngrading of the rupee.
The Pakistani rupee closed trading on Friday from the range ofRs126.10-Rs126.80 against the US dollar in the open market, as compared toThursday where it had closed at the range of Rs125.50-Rs125.80.
According to the State Bank of Pakistan (SBP), the Pakistani rupee hasmaintained its steadiness in the inter-bank market against the US dollar,as it was traded at Rs124.24.
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It is observed that Pakistani rupee has stayed below Rs126, since the endof July when its rate elevated against US dollar, it was basically theresult of the news of victory of Pakistan Tehreek-e-Insaf (PTI) in generalelections 2018.
