KARACHI: October 3, 2022: US dollar’s losing streak continuing in the local currency market as it lost another Rs 1.60 to a rupee in interbank and Rs 1 in open market on Monday.
US currency slide down to Rs 227.20 against its value of Rs 228.60 in interbank and in open market its value depreciated by Rs 1 to take its buying value to Rs 226.50 against Rs 227.50 of the last working day on Friday.
Since coming back of Finance minister, Ishaq Dar, US currency is losing its value on daily basis. In the last one week, US dollar has shed Rs 14.50 in the currency market and its been seen as a positive outcome of Mr Dar’s take over as Finance minister again.
Mr Ishaq Dar soon coming to Pakistan had hinted at readjusting the rupee value against US currency and called it as a main target of his strategy to stablise the economy .
The Finance minister also asserted in his media talks in recent days that the rupee was hijacked by a mafia to make undue benefit at the cost of the national economy.
He also cautioned the banks and forex exchange companies to correct their direction for trade in dollar .
Reduction in US dollar value has given a big sigh of relief to all segments of the society . Since the price of everything from edible to vehicles is linked with US dollar value , any reduction in US currency value will directly benefit to the price hike hit people of Pakistan.