Rupee keeps falling against dollar in the open market – Research Snipers

Rupee keeps falling against dollar in the open market

The rupee has seen further slump on Friday in the open market, Rupee has been falling for the last few months now. According to the reports, the Rupee is continuously falling and touches the lower level since decades,

Currently, Rupees sits at Rs.119.05 dollars in the open market, the Rupee is being traded at the rate of Rs119.50 by various currency exchanges, they are exploiting the situation of future uncertainty of the Rupee.

Analysts say Rupee will regain against the dollar in the coming days, in merely 3 days Rupee has seen devaluation by 1 Rupee.

Pakistan has recently got help from China in order to strengthen the depleting forex reserves and achieve an adequate level of balance of payments. China has made 20 billion Yuan currency swap deal with Pakistan.

China also provides Pakistan a credit line of Rs1.6 billion to boost its foreign reserves, Pakistan is expecting to bring the dollar price back to normal in the next few months.