Pak Rupee Registers Gain Against the US Dollar

For the past few days, Pak Rupee was dropping down against the US dollar and reached an all-time low of Rs153 in the interbank market. But on Wednesday, Pak Rupee has registered slight gain against the US dollar. The dollar has dropped down against the Pak Rupee and it has reached below Rs 150 in the interbank market. The dollar went down by 92 paisa in the interbank market.

Also, 951 points have been added in 100 index so Pakistan Stock Exchange has also witnessed an upward trend. On Tuesday, the US dollar gained by Rs1 in the interbank market and reached Rs150.50. Also, in the interbank market, the rupee depreciated by Rs.1 to reach Rs.151.

Must read: Pak Rupee Declared Asia’s Worst Currency: Bloomberg

After reaching historical high last week, the US dollar went below Rs150 in the interbank market on Monday. The rupee was continuously going down last week and on May 21st, it reached to an all-time low of Rs153 against the greenback

When the PM’s adviser on Finance Abdul Hafeez Sheikh announced that a deal has been reached with International Monetary Fund (IMF) for a three-year bailout package worth $6 billion, the rupee has been continually falling down since then.

But now finally it has reached some stability as celebrities and public figures have been encouraging people to buy rupees and ditch dollars to uplift the Pak currency.

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