Dollar jumps high, rupee continues to depreciate - Money

Greenback jumps excessive, rupee continues to depreciate – Cash

Economy By Aug 23, 2023 No Comments

On the third day of the enterprise week, the US greenback continued to understand towards the Pakistani rupee.

In response to foreign money sellers, in the beginning of interbank enterprise, the greenback rose by 50 paise to a file degree of 299 rupees 50 paise, which is the best degree within the nation’s historical past. Earlier, on Could 11, the greenback had reached 298 rupees 93 paise.

However, within the open market below the affect of interbank, the greenback was costly by 8 rupees and reached 312 rupees yesterday.

It must be famous that within the 12 days of the caretaker authorities, the greenback has change into costly by about 10 rupees, whereas the worth of the rupee has fallen by greater than 3 % in simply 8 enterprise days.

In response to economists, the elimination of the ban on repatriation of earnings in {dollars} to Irani firms and the elimination of all restrictions on imports has elevated the stress on the worth of the rupee.

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