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Dollar drops to Rs238 in interbank market, rupee gains Rs2 since Friday

Zain Aijaz by Zain Aijaz
August 2, 2022
in Business, Latest News, National, News, Top News
Reading Time: 1 min read
Dollar drops to Rs238 in interbank market, rupee gains Rs2 since Friday
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After facing a decline in value for consecutive days, the local currency has started to gain strength against the US dollar. The greenback lost 84 paise and dropped to Rs238 in the interbank market. Yesterday, the dollar closed at Rs238.84.
Since Friday, the rupee has gained Rs2 after a constant drop from July 16. According to Saad Bin Nasir, Director of Mettis Global, the intervention from the State Bank of Pakistan and ease in pending oil payments aided in strengthening the local currency. He added that the rupee would continue to appreciate against the dollar and slowly regain value.

Zain Aijaz

Zain Aijaz

Zain is a media student and a writer by passion. He is a certified creative writer from Wesleyan University and enthusiastically writes on non-fiction and political satire. He is vastly experienced in the field of theatre and has served as a theatre mentor across different institutions. Currently, he is a contributor at The Upcut and can be reached at zainaijazdehlvi@gmail.com

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