Pak Rupee crushes US Dollar to reach Rs231.50 in Interbank

The Pakistan Rupee Wednesday continued it’s upward trend and gained Rs2.41 to Rs231.50 from Rs233.91.

On Tuesday, the local currency settled at Rs233.91 with an appreciation of Rs3.11 as the business was halted for the day.

Also, by Tuesday, the American dollar has lost Rs5.74 against the rupee.

According to forex traders, in open market, the US dollar crashed to Rs234 down by Rs3.50.

In two days, the greenback has lost Rs10.50 in the open market.

Dar’s Effect and US Dollar

Speaking to the media earlier, Senator Ishaq Dar said the rupee’s value had been artificially depreciated and that was a major challenge to bring it down.

He said that the prices of essential commodities had hit the roof and Utility Stores too were an uphill task.

Dar added that ever since they returned at night, the local currency had gained Rs10 against the US dollar and the nation had been unburdened by a debt of Rs1350 billion.

He said that PTI chairman and deposed premier Imran Khan should wait and see which one of them would create hurdles for the other.