PKR Further Strengthens Against USD: US Dollar Trading At Rs 296.35 In The Inter Bank
Economy is moving in the right direction as the Pakistani rupee continued to gain ground against the U.S. dollar in the open market, rising by Rs 1.60 against the greenback.
The dollar has reached two hundred and ninety-six rupees and thirty-five Paisas in the interbank.
Due to the government's crackdown on hoarders and smugglers last week, the value of the dollar has fallen significantly.
Since the crackdown, the dollar has become cheaper by over rupees thirty in open market.
Due to this reduction, there has been a significant reduction in the amount of debt Pakistan owed.
Experts say that further decline in the value of the dollar is expected.
Due to hoarding and smuggling, an artificial scarcity of the dollar was created due to which the dollar exceeded three hundred rupees. However, after the government's action, the dollar has now fallen below the limit of three hundred rupees.