US Dollar falls 23 paisa in interbank

By Arhama Altaf - Web Editor

18th July, 2019

The Pakistani currency, on the back of deteriorating macroeconomic indicators, continues to lose ground and cumulatively depreciate against the US dollar.

The rupee further lost its value by 13 paisa against the US dollar at the early trade hours on Thursday and hit Rs.159.95 in the interbank market.

Yesterday, the rupee recovered 23 paisa against the dollar in the interbank.

On Monday and Tuesday, the local currency lost its value by Rs1.71 against the greenback in the interbank market, which in consequence raised Pakistan’s external debt.

On last Friday, the rupee closed at Rs.158.79 in the interbank market.

Despite after receiving the first tranche of $991.4 million from the International Monetary Fund (IMF), the Pakistani rupee has been observed to continue its downward trend against the US dollar.

According to experts, the government must ensure implementations on economic policies after the deal with the IMF.

It is anticipated that the US dollar rate would fluctuate for some time, and the value of the Pakistani rupee would stabilize after proper implementation of the economic policies.


You May Also Like

International
13th Dec, 2019

UK’s general elections 2019-Tories on their way to victory

Voting of general elections have finally closed and counting of votes is...

International
13th Dec, 2019

Third general elections to be held in Israel

Third general elections in a year are going to be organized in...

Health
13th Dec, 2019

Artificial retina created to remove blindness

Blindness is a common problem in old page people. This can be...

Imran Khan Pakistan
13th Dec, 2019

PM Khan ranks among World’s Top Leadership

Pakistani Prime Minister Imran Khan  proved himself the most influential leaders of...