KARACHI: October 6, 2022: As an investigation goes underway against rouge banks and forex companies allegedly involved in hi-jacking of the rupee, US dollar continues to nosedive in domestic market.
US dollar lost another Rs 1.75 in interbank and Rs 2.50 in open market on Thursday. US dollar value dropped down from Rs 223.50 to Rs 221.75 in interbank and Rs 224.50 to Rs 222 in open market on Thursday.
The rupee is strengthening its position against dollar since taking over of Ishaq Dar as Finance minister . During Miftah Ismail time’s US dollar mafia had hijacked the currency market to make illegal money through currency trade.
The banks whose names were presented by Governor State Bank of Pakistan (SBP) had played a dirty role and jacked up the US currency value in Pakistan . It resulted in quick surge in US dollar value in currency market.
US dollar had gone up to Rs 242 in September last and it added huge burden on Pakistan as its domestic loans jumped up in hundreds of billions.