ISLAMABAD: The value of rupee continues to improve in the interbank market and the value of the rupee increased by 87 paisa against the dollar in the early trade, while the value of the dollar decreased by 10 rupees during the two days in the open market.
The rupee, which closed at 239.37 last week, was trading at 238.50 around 10 am, according to web-based financial data and analytics portal Mates Global.
It may be noted that in the open market, the dollar has depreciated by Rs 10 in the last 2 business days, which touched a record high of Rs 250 on July 29.
Meanwhile, the rupee appreciated by Rs 7 against the dollar in the open market and was trading at Rs 240 around 10 am, according to the Forex Association of Pakistan.
Chairman of Forex Association Malik Bustan said that due to the high dollar rate in Afghanistan, the government has tightened the borders on the dollars that were being smuggled from here, due to which the transfer of dollars to Afghanistan has stopped and its The impact has come on the open market.
According to Malik Bostan, during the two days, speculators and smugglers in dollar have suffered a lot and it is hoped that now the rupee will be strong in the inter-bank market as well.
He requested the public not to buy dollars unnecessarily, otherwise they may face huge losses.
Chairman FAP said that according to him, the real value of the dollar is between 190 and 200 rupees.
It should be noted that in a news conference yesterday, Finance Minister Miftah Ismail said that after the July 16 (by-) elections, the dollar was out of our control and its value increased more.
He had said that I do not speculate on the currency market, but believe that the real value of the rupee is much higher than it is, since more payments had to be made in dollars, so pressure on the rupee increased.
He said that we have taken steps like reducing imports, which will make the dollars coming into Pakistan more than going out, no one knows the market but the fundamental situation is in our favor so it seems. That it will improve in the next 2 weeks.
