According to the rates issued by the Forex Association of Pakistan (FAP), the rupee depreciated by one rupee 78 paise during early trading i...
According to the rates issued by the Forex Association of Pakistan (FAP), the rupee depreciated by one rupee 78 paise during early trading in the interbank market today.
Around 11:26 am, the dollar was trading at Rs 225 20 paise against yesterday's closing rate of Rs 223 42 paise.
In the previous session too, the dollar appreciated by Rs 2 against the rupee.
Also Read: Rupee Depreciates By Another Rs 2 In Interbank
Chairman of Forex Association of Pakistan Malik Bustan said that the dollar is stabilizing globally, its value has increased against 40 currencies of the world in the last few weeks and the effects of this development in the currency market of Pakistan. are also being seen.
Malik Bustan said that the rupee has become dearer by Rs 8 in the open market, urging the government to take steps to reduce the gap.
Read more: Rupee depreciates by Rs 1.56 paise in interbank market
He further said that the government should use its diplomatic channels to negotiate for the repeal of the UAE government's law requiring all passengers from Pakistan to carry 5,000 dirhams in cash. has gone
Malik Bustan said that if the 4 billion dollars announced by the friendly countries gets to Pakistan immediately, it will reduce the pressure on the rupee and help stabilize its value.
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