After getting a good thrashing at the hands of US dollar Tuesday which was appreciated by Rs2.38, the Pakistani rupee halts greenback’s further flight on Wednesday bringing its value down by 19 paisas.
According to forex market, dollar was depreciated by 19 paisas during the morning trading activity in the interbank and was being exchanged at Rs206.75. Yesterday, the American currency was closed at Rs206.94.
The Pakistani rupee which was constantly gaining some ground against the US dollar for almost a week, lost its steam Tuesday as its value was depreciated by a massive 2.38 in the interbank trading.
It was observed that after the announcement of the Memorandum of Economic and Financial Policies (MEFP) received from IMF for the combined 7th and 8th reviews on June 28, the rupee started its upward trajectory against the greenback in the interbank market.
