KARACHI: The Pakistani rupee on Monday continued its winning streak against the US dollar as the local currency gained 39 paisas against the greenback in the interbank market, ARY News reported.
According to forex dealers, the dollar lost 39 paisas to the Pakistani rupee in the interbank market and is currently being traded at Rs220.45.
The dollar is being sold between Rs226 to 229 in the open market, the forex dealers said.
On Friday, the local currency closed at Rs220.84 after appreciating 0.11 paisa from yesterday’s close of Rs220.95.
Read more: FATF removes Pakistan from its grey list
Earlier, it emerged that the money exchange companies have decided to cap currency rates in a bid to stabilise the Pakistani rupee against foreign currencies.
According to details, the money exchange companies have decided to cap currency rates to devaluate other currencies, including the US dollar.
In a statement, the Exchange Companies Association of Pakistan (ECAP) General Secretary Zafar Paracha said that the association has taken measures to devalue other currencies, including the dollar.
from Business News updates - Latest news stories on Economy from Pakistan https://ift.tt/t213zWB
0 Comments