KARACHI: Pakistani rupee’s losing streak against the US dollar did not stop and has pushed the latter to Rs229.9 in interbank market. According to the Forex Association of Pakistan, dollar gained Rs1.72 during the early trade hours.
Experts are attributing many reasons at play to the rupee’s poor performance. Some are linking it to the anticipated increased import bill following the devastating floods in the country. Some are claiming that dollar is making gains in the international market and Pakistan also happens to be at the receiving end.
Dollar is trading at around Rs234 in the open market. It is pertinent to mention here that some experts had predicted the dollar to come down to Rs200 following the release of the loan tranche by IMF and loans by friendly-countries.
Leave a Reply