Daily The Business

Dollar value falls by 21 paisa in interbank market

KARACHI: The value of US dollar on Friday was recorded Rs 127.90 after a fall of 21 paisa in interbank market.

After hitting a record high, the dollar value has started to decline and economists are of the view that with establishment of a stable democratic government more decline is expected.

Earlier, Pakistan capital recorded fresh gains, registering an increase of more 740 points as Pakistan Tehreek-e-Insaf edged closer to victory in the election 2018 securing better than market expectation which denotes that “tabdeeli sets”.

Stock market in two trading sessions gained 1624 points. Pakistan Rupee appreciated by 10 paisa against Dollar to close at Rs128.17.

During Tuesday and Thursday trading sessions, rupee gained 33 paisa whereas Dollar in open market fell by Rs1.10.

Dollar in open market floated at around Rs128.90 and closed at Rs130 on Tuesday. Since Monday dollar has lost Rs2.10 in the open market.

The economic problems have been worrisome and continuous decline in foreign exchange reserves and external debt payments have been keen issues to address on an emergent basis.

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