Treasure Magazine

Treasure Magazine

US dollar gains against rupee

1 min read

KARACHI: Pakistani rupee on thursday gains against the United States (US) dollars in the interbank currency market.

The local unit depreciated 91 paisas to Rs174.67 against the greenback in the interbank , According to foreign currency dealers.

In the open market the dollar is trading at Rs175.40 against the rupee.

The Prime Minister’s advisor on Finance Shaukat Tarin said ‘satta mafia‘ was behind depreciation of the rupee beside smuggling of the dollar to Afghanistan. He also added that the government was going to tighten the noose around the mafia.

After the government announced Saudi Arabia’s financial support of up to $4.2 billion The local currency started recovering from its steep fall against the US dollar , raising the central bank’s foreign exchange reserves and boosting the sentiments of the currency market.

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