KARACHI: Pakistani rupee appreciation has hit an eight month high against the dollar. The trading of dollar was below Rs100 on Tuesday, media reported.
Foreign currency dealers were surprised by the rupee progress as it maintained its appreciation for second consecutive day in interbank and kerb currency markets.
Finance Minister Ishaq Dar challenged a few months back that the Government would bring down dollar below Rs 100 and it has been proven now.
Mohammad Sohail, Chief Executive of Topline Securities said, “Dollar inflows in the market are more than the expectations of the market participants.”
“All these inflows are having a positive impact on the rupee….I think it should now stabilize in the 98-102 level range going forward,” he added.
And he also said, “Ishaq Dar’s expectations proved right and the market proved wrong.”
Dear TNT Reader,
At The News Tribe, our mission is to bring you free, independent, and unbiased news and content that keeps you informed and empowered. We are committed to upholding the highest standards of journalism, as we understand that we are a platform for truth.
Apart from independent global news coverage, we also commit our unique focus on the Muslim world. In an age marked by the troubling rise of Islamophobia and widespread misrepresentation of Muslims in Western media, we strive to provide accurate and fair coverage.
But to continue doing so, we need your support. Even a small donation of 1$ can make a big difference. Your contribution will help us maintain the quality of our news and counteract the negative narratives that are so prevalent.
Please consider donating today to ensure we can keep delivering the news that matters. Together, we can make a positive impact on the world, and work towards a more inclusive, informed global society.
Donate Monthly Subscription Annual Subscription