Local currency obtained RS2.11, or 0.94 percent, against the dollar to be closed in RS224.04. Saad bin Naseer, Director of Global Mettis, Financial Data and Web-Based Analytical Portal, said that PKR is stable today because the flow of export pipes and money transfers is stored and there is no panic between the banks. He said, however, that the government needs to look into the “big game” played by money converter because they cause problems and losses for ordinary people.
“When Rupees fell to 240 between banks, Money Changers sold dollars in 250-255 in open markets. Today, money changers buy dollars on 210/215 and sell them in the government of the government for 225/226, “he said. Naseer said Rupee would strengthen further in the coming days behind more flowing.
Rupee has experienced a consistent decline from July 15 and fell to the lowest record 239.94 on July 28. But since July 29, it has reversed gear and its value has increased by RS14.15 until yesterday (August 4).
The biggest increase was seen on Wednesday (August 3), when the rupees were valued by a one -day profit record of RS9.59 or 4.19pc. The big advantage by Rupee has brought exchange rate stability because currency dealers feel that fluctuations will not be volatile as witnessed in July when Greenback rises more than 13pc in one month against local currencies.